Trad’s surprise claim on super funds merger

 

TREASURER Jackie Trad has suggested that a potential merger between Queensland's two biggest superannuation funds, Sunsuper and QSuper, could be a jobs creator.

It came as the Together union called on the State Government to guarantee it would not touch the defined-benefits scheme of more than 30,000 public sector workers if the merger went ahead.

Secretary Alex Scott said the union wanted a guarantee from both Labor and the LNP that they would not pass late-night legislation that would affect the scheme.

"Our major concern is ensuring that the defined-benefits scheme remains fully funded and is untouched by politicians as part of this process," he said.

"Queensland has a sad history of governments passing legislation in the middle of the night that has dramatically impacted our conditions of employment."

Ms Trad yesterday insisted the proposed merger would not affect the defined-benefits scheme, saying it was "locked and preserved" by legislation.

"Nothing that is proposed in the merger will affect the defined-benefits scheme or the accumulated scheme for superannuants," she said.

"Queensland is the envy of every other jurisdiction in this nation, because our defined-benefits scheme is fully funded."

When asked if it was inevitable the potential merger would lead to job losses, Ms Trad suggested it could actually create jobs.

"It will entail essentially more workers to ensure that the scheme runs effectively and efficiently and according to APRA guidelines," she said.

"I don't think there's any inevitability about anything."