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25th Report of the Senate Select Committee on Superannuation
THE PARLIAMENTARY CONTRIBUTORY SUPERANNUATION SCHEME & THE JUDGES' PENSION SCHEME

TABLE OF CONTENTS

Members of the Committee

Overview

Background to the inquiry

The origins
The reference
Conduct of the Inquiry
Issues raised by the Law Reform Commission
At the outset

Part A

Chapter 1: - The Parliamentary Contributory Superannuation Scheme

Establishment and purpose of the Scheme
The history
Core features of the scheme
Special features
Membership and costs of the PCSS
Disqualification from entitlements
Administrative costs
The trustee structure
Other parliamentary schemes

Chapter 2: - Appropriateness

Public perceptions of parliamentary superannuation
Is the scheme trying to do much?
The tenure of Australian Parliamentarians
The age of parliamentarians
The relative benefits to long and short term members
Superannuation, parliamentarians and the wider community
The nature of parliamentary life
Early pensions
Flexibility, portability and choice
To be or not be funded
Conclusion

Chapter 3: - Reforming the Scheme

The case for reform
Remuneration and representative government
Superannuation as part of parliamentary remuneration
Is an accumulation scheme appropriate?
Disadvantages associated with accumulation schemes
Preservation to age 55
Actuarially reduced pensions
Conclusions and recommendations

Chapter 4: - Consequential Reform

Dislocation benefits
Future determination of parliamentary remuneration

Part B: - The Judges' Pension Scheme

Background

Chapter 1: - Independence of the Judiciary

Judicial independence: what it is and why it matters
Mechanisms to support judicial independence
A more mobile judiciary?
Restraints on judges' financial affairs before and after retirement
The National Commission of Audit's contribution to the debate
Conclusion

Chapter 2: - Recruitment to the Judiciary

Who do we want as judges?
The judicial pension scheme as a recruitment tool
The effects on judicial recruitment of general changes to superannuation
Future changes to the judiciary?

Chapter 3: - The Judges' Pension Scheme Outlined

Authority for the scheme
Some history of Australia's scheme
Features of the scheme
Funding, costs and employer support
A changing judiciary
Golden handcuffs?
Comparison with other schemes
The Canadian scheme
In the UK
Lessons from the history

Chapter 4: - Appropriateness of the Scheme

Vesting
Death and dependants
Recommendation 4.1
Commutation and Choice
Resolving equity between judges

Chapter 5: - Conclusions and Recommendations

Dissenting Report: - Senator Lyn Allison

Appendix A: - List of written submissions

Appendix B: - List of witnesses at Public Hearings

Appendix C: - List of Committee Reports

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