Consumer group, Super Consumers Australia (SCA) has backed amendments to the Government’s Treasury Laws Amendment (Putting Members’ Interests First) Bill which would exempt workers in dangerous occupations.
The SCA, and offshoot of consumer group, Choice, noted that it had written to all cross-bench senators stating its support for the Government’s bill and urging them to be wary of claims being made regarding occupation and industry risk in the absence of any supporting data or evidence.
It recommended that if senators were contemplating exemptions or carve-outs, that fund trustees should be required to demonstrate that insurance would be in the best interests of a specific cohort, including data on dependents and the availability of existing public compensation and support schemes.
However, it said today that it supported a Government amendment which allowed trustees to exempt emergency service workers, or to seek an actuarial certificate to exempt certain dangerous occupations from the “riskiest quartile” of Australian occupations.
It said it also backed an amendment from Tasmanian independent Senator, Jacqui Lambie which would oblige fund trustees to request and store information on whether a fund member had dependent children.