[Greens-Media] MARK PARNELL MLC: Greens win on ethical super

[Parnell]

Media Release
Friday 11th April, 2008

Greens win on ethical super


South Australian public servants and police will soon have the ability
to place their retirement savings in an ethical investment option after
the State Upper House last night passed Greens' amendments to
superannuation laws.   

"I am delighted that our hard-working police and other public servants
will soon have the same choice in how to invest their hard-earned money
as the rest of the community," said Greens MLC Mark Parnell.

"The Upper House has shown its strong support - the ball is very much
now in the Government's court - there is no reason for them to block
this in the Lower House.  Other states including Qld and WA have been
doing this for years.

"Up until now, public servants haven't been able to put their money in a
super fund that reflected their values.  We have had the bizarre
situation of Health Department employees working on anti-tobacco
campaigns with no choice but to have their retirement money invested in
tobacco companies such as Malboro. 

"That should now change.  It is only right that all South Australians
should have choice about where their money ends up," he said.

Last week, Mark Parnell introduced a Private Member's Bill to force the
Government to offer an ethical super choice option for the state's
public servants, police and politicians.  Now that these amendments to
part of the law governing superannuation have been passed, he will
fast-track debate on his Bill to ensure consistency for all public
servants.

The Greens MLC has been campaigning for ethical super choice for the
last 18 months.  The Government's response over that time has been to
say 'there is no demand'.  However, in a survey conducted last year of
3,000 Super SA members, 31% said they would 'definitely' choose an
ethical super option, and a further 58% said 'maybe'.  

"To say there is no demand is plain wrong. A whopping 89% of public
servants say they are interested in the option. There is simply no
reason not to offer these people a choice, and now with these important
amendments passing, they should soon get it" he said. 

 
	
For further comment contact Craig Wilkins on 0434 007 893

	
 


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