Tuesday, 2 December 2025

 David DAVIS (Southern Metropolitan) (12:18): My question is for the Treasurer. Treasurer, I refer to the unfunded state government superannuation liabilities, noting the auditor says the government will need to contribute $18.1 billion in nominal value between 2026 and 2035 – this is more than double its contributions over the last decade – to meet its full funding commitment. I ask, therefore, Treasurer: with this superannuation albatross hanging over the state government, why has the government deferred annual contributions by $3 billion from 2023 to 2027 without explanation for the deferral?

 Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:19): I thank Mr Davis for his question, whilst I reject the characterisation of his question. Mr Davis, I think you would be well aware that top-up payments continue to be made and have always been made in relation to meeting our superannuation contribution obligations. Any suggestion that this in any way creates a risk to the entitlements is false. The superannuation commitments will be fully funded. We have continued to make top-up payments. It is disclosed in the budget. This is what we have done, and it is the usual way. We are fully committed to funding the superannuation liability by 2035.

 David DAVIS (Southern Metropolitan) (12:19): Treasurer, you say are fully committed, but I ask: will you admit that full funding by 2035 is going to be very difficult with the cash-strapped government not intending to keep up the payments required for full funding?

 Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:20): Mr Davis, I can repeat my commitment that I gave in my answer to your substantive question, and that is that the superannuation liability of course will be fully funded by 2035. We are in a much stronger position than an alternative government that has created an $11.1 billion black hole. I would like to see you try and meet that commitment.