Page 3205 - Week 12 - Wednesday, 18 November 1992
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Mrs Carnell: They will be poorer.
MR BERRY: There is no question about it; people hire a range of facilities whilst they are in hospital and they are expensive items for the system to provide. Regrettably, sometimes we have to recover some of those costs, and this appears to be one of those areas.
Ms Follett: I ask that further questions be placed on the notice paper.
SUPERANNUATION PROVISION TRUST ACCOUNT
Paper and Ministerial Statement
MS FOLLETT (Chief Minister and Treasurer): Madam Speaker, for the information of members, I present the statement of accounts for the period 27 June 1991 to 30 June 1992 of the ACT Superannuation Provision Trust Account. I ask for leave to make a brief statement.
Leave granted.
MS FOLLETT: I thank members. Madam Speaker, these accounts demonstrate the Government's commitment to provide for a significant proportion of superannuation liabilities as they accrue. Agencies that operate on a commercial basis and the municipal budget sector pay employer superannuation contributions into the trust account at fully funded levels. A new initiative in the 1992-93 budget is an additional provision of $17.7m in relation to liabilities of the general government sector.
Most ACT government staff belong to superannuation schemes administered by the Commonwealth. As agreed with the Commonwealth, the ACT is required to reimburse the costs of benefits paid for each year of ACT government service since 1 July 1989. Under these arrangements, the ACT's short- to medium-term costs will not be significant. The amount to be paid in 1992-93 is estimated at $1.685m - considerably less than the provision being made this year for future liabilities. Net assets available in the trust account to meet superannuation liabilities are expected to increase from $75m as at 30 June 1992 to $121m by 30 June next year. The accounts show that the estimated unfunded portion of long-term liabilities is approximately $105m as at 30 June 1992. The Government's initiatives to provide for a significant proportion of superannuation liabilities as they accrue will assist the ACT in avoiding the problems currently faced by several State governments which have completely unfunded general government sector liabilities.
PAPER
MR BERRY (Deputy Chief Minister): For the information of members, I present the Criminal Injuries Compensation Act annual report 1991-92, pursuant to section 35 of the Criminal Injuries Compensation Act 1983.
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