Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

Mr President, I am not aware of the Telstra advice to which Senator Sherry refers. I am happy to check the facts. I am not, on the face of it, calling Senator Sherry a liar. I am happy to check on that advice but I do not have an immediate recollection of it. I simply point out to Senator Sherry, as I did in the debate to take note of answers given yesterday, that it is 13 months since I put on the record in this Senate the situation that will apply to employees of Telstra who are members of the CSS and PSS schemes. I made it clear 13 months ago, on the record, that for those Telstra employees who are members of the Commonwealth Superannuation Scheme membership will cease once the Australian government ceases to hold majority ownership of Telstra and that the government will continue to be responsible for meeting the obligations going forward in respect of the past service of those employees. That is the position, enunciated 13 months ago.

As I said yesterday, it is entirely consistent with the position adopted by all governments, including Senator Sherry’s former Labor government, with respect to employees of government owned businesses when those businesses are no longer owned by the government. The responsibility for the superannuation arrangements going forward moves to the new owners of the business and is a matter for the shareholders of that business. The Commonwealth, on behalf of taxpayers, will continue to honour its obligations for the accrued superannuation entitlements of those employees but, once ownership changes, the superannuation arrangements going forward are a matter for the new owners of the business and not the responsibility of taxpayers. I am happy to recollect or have refreshed the situation with respect to any Telstra advice and come back to Senator Sherry.