Output EBT 1 Superannuation Provision Account

Overview

The Superannuation Provision Account (SPA) is established to recognise the investment assets and defined benefit employer superannuation liabilities of the Territory which includes past and current ACT employees who are members of the Australian Government’s Commonwealth Superannuation Scheme (CSS) and Public Sector Superannuation Scheme (PSS) and Members of the Legislative Assembly Defined Benefit Superannuation Scheme.

The directorate, through the financial operations of the SPA, assists the government to effectively manage the defined benefit employer superannuation liabilities of the Territory. This includes responsibility for the management of the financial investment assets set aside to fund those liabilities.

Highlights

In 2018-19 the directorate:

• managed the SPA investment portfolio in accordance with the established investment plan and policies;
• completed the annual actuarial review of the defined benefit employer superannuation liabilities of the Territory;
• continued to progress and implement the operational requirements of the Responsible Investment Policy;
• completed the annual Principles for Responsible Investment (PRI) reporting assessment which is mandatory for signatories to the PRI; and
• administered benefit entitlements for Members of the Legislative Assembly defined benefit superannuation arrangement.

The directorate met all its 2018-19 accountability indicators against this output.

Government’s Responsible Investment Policy

Reporting and disclosure of responsible investment related activity is available from the directorate’s website.

This includes the disclosure of:

• the Government’s Responsible Investment Policy;
• the Investment Plan;
• directly-owned share holdings (updated quarterly);
• a summary of the Sustainability Proxy Voting guidelines; and
• share voting activity for the financial year (updated quarterly).