SUPERANNUATION UPDATE

The three emergency services reached agreement with Government yesterday on the process for settling the current superannuation dispute.  In return for Government agreeing to enter into a common law deed of agreement protecting ESSS the unions have suspended the proposed industrial action.

The agreement reached yesterday commits the Government to entering into a common law deed of agreement with the unions that would guarantee the superannuation entitlements of existing, retired and future emergency services workers.  Specifically the deed of agreement will provide :

·         Continuing protection of defined benefits for current members of the ESSS;

·         Continued access to the ESSS defined benefits scheme and its benefits for future eligible members;

·         Maintenance of the right for retired members to roll over funds in ESSS Beneficiary Accounts;

·         Continued access to ESSS accumulation products (including ESSPlan) at no cost disadvantage for current and future eligible members

·         Continued access for current and future members to all ESSS Beneficiary Accounts; and

·         Board representation to protect and fully preserve the ESSS.

The parties are committed to concluding the deed of agreement by Friday 21 October 2005.  If the agreement is not concluded by that date then the unions undertaking to suspend industrial action expires.

Throughout the campaign the unions have sought a ‘high level’ of comfort that members’ entitlements would be preserved.  The absorption by ESSS of State Super and its unfunded liabilities was seen as a threat to the long term viability of ESSS.  The common law deed guarantees the continued existence of ESSS. 

A common law deed of agreement is a legally enforceable agreement and the unions will be able to use the courts to enforce the agreement against this and future Governments.

Any deed of agreement which would form the basis of the dispute’s settlement will be subject to endorsement at a special general meeting of members.

Paul Mullett                                   Peter Marshall                                Steve McGhie

Secretary                                      Secretary                                       Secretary

The Police Association                   United Firefighters Union                  Ambulance Employees Union