“Commonwealth superannuation” arises from employment by the Commonwealth. In the context of the SRC Act, Commonwealth employment means employment in the Australian Public Service and also employment by a “Commonwealth authority” or a “licensed corporation”, as defined in s 4(1) of the SRC Act.
Almost all Commonwealth statutory authorities and Commonwealth-owned corporations are within the above description, including:
- Australia Post;
- Reserve Bank of Australia;
- Telstra Corporation Limited (a Commonwealth authority until 30/6/97 and a licensed corporation thereafter);
Special cases are discussed below.
The Australian Capital Territory, including all of its Territory-owned corporations (eg. ACTEW and TotalCare), is a Commonwealth authority.
ADI (formerly Australian Defence Industries) was a Commonwealth authority until 31 December 1998 and was granted a Class B licence as a licensed corporation under the Act from 1 January 1999 to 30 June 1999 by Notice No.1 of 1998, published in Gazette S 606 of 22 December 1998. The licence was extended from 30 June 1999 and continued in effect after ADI was privatised on 29 November 1999.
CSL Limited (formerly the Commonwealth Serum Laboratories) has remained as a licensed corporation under the SRC Act, despite its privatisation. Accordingly, retirement from CSL should be treated as retirement from Commonwealth employment.
Network Design & Construction Limited
Network Design & Construction Limited ACN 086 174 781 was licensed under the SRC Act upon its establishment as separate corporation on 15 April 1999. Before that date, NDC was a business unit of Telstra Corporation.
Australian air Express Pty Ltd
Australian air Express Pty Ltd ACN 054 307 336 was licensed under the SRC Act from the beginning of 1 July 1999. It is a joint venture between Qantas and Australia Post.
Visionstream Pty Ltd, ACN 062 604 193 was licensed under the SRC Act from the beginning of 1 July 1999. Visionstream was previously a Commonwealth authority linked to Telstra Corporation.
National Rail Corporation (NRC) was licensed under the SRC Act with effect from 1 July 2001.
Employment with the Commonwealth Bank is not to be treated as Commonwealth employment unless the employee retired before 19 July 1996, the date of the Bank's final privatisation.
Employment with Qantas is not to be treated as Commonwealth employment, except for employees of Qantas Domestic (Australian Airlines/TAA) who retired before 30 July 1995, the date when coverage of Qantas Domestic by the SRC Act ceased.