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Private Sector Should Follow Government Lead

MEDIA RELEASE

05 November 2003

Private Sector Should Follow Government Lead on Retirement Savings

“The Government’s lead on retirement savings should encourage employers in the private sector to make contributions to retirement savings for workers,” Council of Trade Unions president Ross Wilson said today.

He said the Government’s announcement that it is introducing a new retirement savings scheme for core public service employees is good news for workers.

“The unions involved can take pride in re-establishing a superannuation scheme in the state sector,” he said

The CTU has worked closely with unions in the public sector on retirement savings issues and was represented on the working party which developed the proposals for this new scheme.

Other recent changes to prospectus requirements and tax on employer contributions also are moving in the right direction, Ross Wilson said.

ENDS

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