Unclaimed Money (Superannuation and RSA Providers) Amendment and Expiry Bill 2012
Uniform Legislation and Statutes Review Committee· 25 October 2012general_report
The WA parliamentary committee reviewed the Unclaimed Money Bill 2012, focusing on its impact on parliamentary sovereignty and the transfer of unclaimed superannuation to the ATO. It raised concerns about the loss of insured benefits for some GESB members and the lack of guaranteed return of funds if WA re-establishes its own scheme.
Impact
GESB members with small accounts (particularly 52 members with insured benefits), the WA Parliament's future control over unclaimed superannuation, and the efficiency of reuniting individuals with their unclaimed super.
financepublic_sectorunclaimed moneysuperannuationATOparliamentary sovereigntyinsured benefitsGESBlost member accountsintergovernmental agreementfinancial regulation
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