Nick Sherry (Tasmania, Australian Labor Party, Shadow Minister for Banking and Financial Services) Share this | Hansard source

My question is to Senator Minchin, the Minister for Finance and Administration. Is the minister aware of the statement on page 51 of the T3 prospectus that ‘Telstra employees who are members of the Commonwealth Superannuation Scheme, CSS, will cease to be eligible employees for the purpose of the Superannuation Act 1976 and will no longer be entitled to contribute to the CSS’? Does the minister recall assuring Telstra staff during question time on 7 September 2005, in answer to a question from Labor on this matter, that superannuation conditions would continue once Telstra was sold by the government? Why has the minister failed to honour his commitment to protect the defined benefit entitlements of 1,800 Telstra employees as part of the privatisation process?