House of Assembly
Fifty-First Parliament, Second Session (51-2)
51
2
Parliament of South Australia
House of Assembly
published
Answers to Questions
Superannuation Data
SUPERANNUATION DATA
Mr HAMILTON-SMITH
House of Assembly
Waite
Leader of the Opposition
SUPERANNUATION DATA
265 Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (23 October 2007). With respect to 2007-08 Budget Paper 3—page 5.11, what is the projected data for table 5.11 for each year to 2034?
The Hon. K.O. FOLEY
House of Assembly
Port Adelaide
Deputy Premier
Minister for Industry and Trade
Minister for Federal/State Relations
SUPERANNUATION DATA
The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations): I am advised that due to limited information being available in relation to schemes not administered by the SA Government, the projected data for Table 5.11 for each year to 2034 cannot be provided. However, I can provide the requested information for the State's Defined Benefit Superannuation Scheme.
The SA Government is committed to fully funding its superannuation liability by 2034. The table highlights that the SA Government is on target to meet this commitment.
The table provided below shows projections to year 2034 for the state's defined benefit superannuation schemes as at the 2007-08 Budget.
Information on the estimated unfunded superannuation liability was updated as part of the 2007-08 MYBR. Further updates will be provided in the 2008-09 and future budgets.
| Defined benefit schemes superannuation liabilities |
|
Accrued Liability$m |
Assets$m |
Net liability$m |
| 2007 |
11,929.8 |
6,188.7 |
5,741.1 |
| 2008 |
12,205.5 |
6,414.9 |
5,790.6 |
| 2009 |
12,451.3 |
6,620.4 |
5,830.9 |
| 2010 |
12,665.5 |
6,804.1 |
5,861.4 |
| 2011 |
12,845.3 |
6,964.1 |
5,881.2 |
| 2012 |
12,992.8 |
7,103.2 |
5,889.6 |
| 2013 |
13,109.9 |
7,224.3 |
5,885.6 |
| 2014 |
13,191.5 |
7,323.3 |
5,868.2 |
| 2015 |
13,238.1 |
7,401.7 |
5,836.3 |
| 2016 |
13,256.2 |
7,467.2 |
5,788.9 |
| 2017 |
13,242.7 |
7,518.1 |
5,724.6 |
| 2018 |
13,204.7 |
7,562.6 |
5,642.1 |
| 2019 |
13,141.2 |
7,601.6 |
5,539.6 |
| 2020 |
13,058,3 |
7,642.7 |
5,415.6 |
| 2021 |
12,995.6 |
7,687.5 |
5,268.3 |
| 2022 |
12,840.2 |
7,744.9 |
5,095.3 |
| 2023 |
12,708.5 |
7,813.8 |
4,894.8 |
| 2024 |
12,562.9 |
7,898.8 |
4,664.2 |
| 2025 |
12,406.6 |
8,005.7 |
4,400.9 |
| 2026 |
12,239.0 |
8,136.9 |
4,102.1 |
| 2027 |
12,065.0 |
8,300.2 |
3,764.8 |
| 2028 |
11,883.6 |
8,498.2 |
3,385.4 |
| 2029 |
11,701.9 |
8,741.5 |
2,960.4 |
| 2030 |
11,521.7 |
9,035.8 |
2,485.9 |
| 2031 |
11,351.6 |
9,394.1 |
1,957.5 |
| 2032 |
11,202.6 |
9,831.8 |
1,370.5 |
| 2033 |
11,074.8 |
10,354.9 |
719.0 |
| 2034 |
10,969.7 |
10,969.7 |
(0.0) |