Treasurer, Curtis Pitt proposes to introduce the changes outlines in the Revenue and Other Legislation Amendment Bill 2016 (the Bill). If approved, the Bill will:

• allow the Treasurer discretion to reduce an individual's defined benefit multiplier. This is in cases where a persons superannuable salaly has been changed due to the inclusion of allowances that were not previously superannuable;
• provide members a choice of fund, excluding those on defined benefit; and
• amend the QSuper Act to open their membership to the general public (open fund).

The ASMOFQ Executive has reviewed the proposed Bill and will be engaging with the Treasurer to advise we will not accept any changes that will negatively impact on members’ superannuation entitlements. The Executive will also raising concerns about the delegated power the Bill gives to make such changes may be utilised to members detriment in other future circumstances.

The proposed Bill is yet to be debated in parliament. In light of this, ASMOFQ is urging all Queensland Residents who disagree with the proposed changes to signing this petition by Friday 9 September 2016.