Government announcement on changes to superannuation administration
The Hon Lindsay Tanner MP Cabinet Minister for Finance and Deregulation today issued a media release announcing reforms for the administration arrangements of Australian Government superannuation schemes.
This announcement follows a comprehensive review of the scheme's administration arrangements, including long-term IT requirements for administration of the schemes.
One outcome of the review is that the Public Sector Superannuation accumulation plan's (PSSap) administration will be outsourced by 30 June 2011. This will not impact members' benefits or entitlements and does not affect administration of the PSS and CSS.
For more information see the media release from the Minister for Finance and Deregulation.
