Following a request from the AEA-V, The Police Association [TPAV] and United Firefighters Union [UFU] collectively for a review of the ESSS Defined Benefits Scheme the Victorian State Government has authorised a review.
Consultants have been engaged to provide a report for Government to consider.
The three unions have provided a submission for consideration.
The review is in two parts:
Part A – Review of certain design elements of the ES DB Scheme
The review is to assess the appropriateness of the following design elements of the ES DB Scheme under the Emergency Services Superannuation Act 1986 (Act):
the current maximum benefit multiple that applies under the Scheme’s governing legislation;
the prospective service age of 55 that applies when calculating death and disability benefits for operational staff ; and
the design of the current resignation benefit and the relativity this bears to the retirement benefit and the feasibility and efficacy of introducing a transition to retirement
Part B – Review of gender equity
The review is to analyse the impact that the ES DB Scheme’s design has on members of different gender. This should allow for differences in work patterns (e.g. part-time work, leave without pay and parental leave) that are observed for emergency services employees of each gender and consider any changes to Scheme design that may improve gender equity.
We will keep members informed of any progress of this review.