❓ Mrs. Roberts questions a $5.573 million cost blowout in Gold State Superannuation for the Department of Education in the 2009-2010 budget. The Minister explains the increase was due to a revised employer contribution rate recommended by the GESB following an actuarial review, and the department will account for this in future budgets.
AnsweredQoN 2547Legislative Assembly
QuestionView source ↗
(1) Has there been a cost blow-out of $5,573,000 for Gold State Superannuation beyond what was allocated in the 2009–2010 State Budget?
(a) if not, what blow-out has there been in Gold State Superannuation?
(2) Why has there been a blow-out?
(3) Will the Minister provide reasons as to why her department was unable to accurately estimate its liabilities to Gold State Superannuation?
(4) Will the Minister be able to provide a more accurate estimate for the 2010–2011 State Budget; and
(a) if not, why not?
(a) if not, what blow-out has there been in Gold State Superannuation?
(2) Why has there been a blow-out?
(3) Will the Minister provide reasons as to why her department was unable to accurately estimate its liabilities to Gold State Superannuation?
(4) Will the Minister be able to provide a more accurate estimate for the 2010–2011 State Budget; and
(a) if not, why not?
AnswerView source ↗
Answered
20 April 2010
Responded by
Minister for Education
Response time
33 days
(1) The State Treasurer accepted a recommendation from the Government Employees Superannuation Board (GESB) to gradually increase the employer contribution rate from 12 per cent to 22.5 per cent over the next seven years. This affected all State government bodies. The recommendation was made as a result of an actuarial review of the Gold State Superannuation scheme. The resultant increase to the Department's employer contribution rate was $5 573 000.
(1)(a) Not applicable.
(2) See answer to (1) above.
(3) The then Department of Education and Training was advised of these increases after finalisation of the 2009-2010 budget process.
(4) The Department of Education will take into account the increased employer contribution rate in subsequent budget estimates.
(4)(a) Not applicable.
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(1)(a) Not applicable.
(2) See answer to (1) above.
(3) The then Department of Education and Training was advised of these increases after finalisation of the 2009-2010 budget process.
(4) The Department of Education will take into account the increased employer contribution rate in subsequent budget estimates.
(4)(a) Not applicable.
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
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