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Second Reading Speeches

Governance of Australian Government Superannuation Schemes Bill 2011

Type
Government
Portfolio
Finance and Deregulation
Originating house
House of Representatives
Status
Act
Parliament no
43

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Summary

Part of a package of three bills to establish governance arrangements for Commonwealth superannuation schemes, the bill: merges the Australian Reward Investment Alliance, the Military Superannuation and Benefits Board and the Defence Force Retirement and Death Benefits Authority into a single trustee body - the Commonwealth Superannuation Corporation (CSC), and sets out its functions and powers; establishes a governing board of CSC; allows CSC to employ staff and engage consultants; and provides for finance and reporting requirements.