Emergency workers threaten to strike over super
Emergency services workers have rejected reassurances from the Victorian Government that their super benefits will be fully preserved under a proposed merger with a Government superannuation scheme.
Police Association Victoria secretary Paul Mullett told Money Management the reassurances would not prevent police, firefighters and ambulance paramedics in the state from taking action over the merger.
Mullett said industrial action could only be averted by a Government decision not to proceed with its merger of the Emergency Services Superannuation Scheme (ESSS) and the Government Superannuation Office (GSO) scheme.
Mullett rejected an earlier statement by Minister for Finance John Lenders that member entitlements were “enshrined in legislation, and that these entitlements will be preserved”.
“The GSO is under-funded in excess of $12 billion dollars, and we have grave fears over merging it with a fully funded, well managed defined benefits scheme of $1.3 billion for emergency services workers.
“The funded scheme will absorb that $12 billion of unfunded liability, and therefore it follows that members’ benefits over time will realistically erode.”
In a meeting between the three emergency sectors last week, union executives resolved to refuse to work overtime or process paperwork.
Recommended for you
Technology firm Iress and investment manager Challenger have formed a strategic partnership to launch an adviser solution to better serve their retiring clients.
There have only been a “handful” of opportunities in the last 20 years when infrastructure has looked as cheap relative to equities as it does now, according to Lazard, making it a viable option to provide portfolio security amid market volatility.
The Australian Financial Complaints Authority has reported an 18 per cent increase in investment and advice complaints received in the financial year 2025, rebounding from the previous year’s 26 per cent dip.
EY has broken down which uses of artificial intelligence are presenting the most benefits for wealth managers as well as whether it will impact employee headcounts.
