Super SA

Mr COWDREY (Colton) (14:14): My question is to the Treasurer. Did the Treasurer ask Kevin Foley to resign as chair of Super SA and, if so, why?

The Hon. S.C. MULLIGHAN (Lee—Treasurer) (14:14): I asked whether Kevin Foley would be interested in chairing Super SA because it had been a period of significant change in the organisation. Members would recall dealing with a bill which did, really, two things in the last parliament. It opened up a choice of fund for members of Super SA's superannuation schemes, which is a massive change for the organisation, more than 200,000 members for the first time being able to potentially withdraw their superannuation entitlements and place them in other funds.

More to the point, and something that I had spoken about quite significantly in this place, the other significant change was for the first time Super SA in a limited way competing out in the private marketplace against other retail and industry super funds for people who had been Super SA clients but had moved to other employment to be able to move their superannuation from those other retail and industry funds back into Super SA.

I was grateful that Kevin Foley would take on that role. As all of us would recognise, he is very, very experienced, not only as a minister and member of parliament but for his superintendence in these roles. He made it clear to me over a period of time that the role was certainly more than he was anticipating. It was, as it has turned out, a period of change in the executive leadership of the organisation. He didn't want to continue committing the time and the effort to that role anymore and he offered me his resignation.