Rail Tram and Bus Union Queensland Branch
 
 
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Superannuation Changes: QSuper Defined Benefits

Attention: QR and Aurizon Members

Some members are currently contributing to the defined benefit superannuation scheme which provides for a multiplier method based on your rate of pay to be utilised in calculating what defined benefit superannuation you are entitled to. This is different to the accumulation scheme which most members are covered by following the closure of entry to the defined benefits scheme some time ago.

Some members contribute to both as a result of the way in which the aggregate wages were addressed.

There have been reports about changes to the defined benefits scheme in respect of the way in which it is calculated in the media over the last few days.

Naturally the union has investigated this matter and I am pleased to advise that there are no members or potential members of the RTBU affected by the legislation that will be passed through parliament in the near future.

There is no change to the components used to calculate what your entitlement to employer contributions are and there is no components of your earnings which will be discounted in carrying out the calculation of what you are entitled to when payment of your superannuation is due.

To clarify this for all members and potential members under the coverage of the RTBU in a defined benefit scheme there will be no change in the calculation, or the components used in the calculation, to that which was used prior to the legislation.

If you require any further clarification, you should contact Q-Super directly.

Unity is Strength

Owen Doogan
RTBU State Secretary,
Queensland Branch