Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Police seek early super access

federal-government/chief-executive/treasury/

21 October 2005
| By Darin Tyson-Chan |

The Federal Government has rejected an application by the Police Federation of Australia (PFA) to allow its members early access to their superannuation at the age of 55.

The PFA made the application on the grounds that policing had become more dangerous in recent years, making it unrealistic to expect members of the police force to work until their late 50s.

It was hoped the Government would take into account practices employed overseas, where mandatory retirement at the age of 55 is imposed upon police, before making a decision.

However, the Government maintained all police officers born since June 30, 1964 have to work at least till the age of 60.

“The Government has only listened to superannuation and Treasury officials,” PFA chief executive Mark Burgess said.

“It ignored submissions from the Police Federation, Police Commissioners and Police Ministers, the people who know best about the physical and physiological rigours of policing,” he added.

Police and other emergency services are also fighting a superannuation battle against the Victorian Government in an effort to retain the independence of the Emergency Services Superannuation Scheme.

The Victorian Government has outlined plans to merge the Emergency Services Superannuation Scheme with the Government Superannuation Office Fund, a move the emergency services believe will weaken their existing fund.

The police, ambulance and fire fighters’ unions have approved a rally later in the month, at which time they will consider possible industrial action and will call on the Victorian Finance Minister, John Lenders, to resign.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

2 weeks 5 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

3 weeks 5 days ago

So we are now underwriting criminal scams?...

6 months 3 weeks ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

3 weeks 4 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

6 days 15 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND