$uper $urplus

Dennis Evans with WA branch secretary Terry Buck

Battler Dennis Evans is set to retire next year. One of the original

wharfies who fought for industry super back in the sixties under

Charlie Fitzgibbon, he says he is now looking forward to being

able to enjoy life and make way for a young casual to get a job.

"I remember the early battles for super," he said. "We had to

fight for it, we didn't get it handed to us. It was a bit of a

struggle. We'd go out on 24 hour stoppages every now and then

and each time we were fined our 28 bob pick up appearance money.

But we never ran away from a struggle."

When Dennis started on the Adelaide wharves back in 1964, it was

all casual labour - nationwide.

"In those days if you retired you got nothing," he said. "You

walked out with your day's pay."

The pension campaign was a policy the union adopted to deal with

containerisation, technological change and the redundancies that

went with it. Pensions had first been promised during the war,

but nothing came of it. For the union it was a matter of social

justice.

The super campaign kicked off in 1965 with several 24 hour national

stoppages and arbitration. But it was not until two years later

when the union achieved permanency, that super came into being

in the stevedoring industry.

"We started on a base wage of about $50.50 a week - $10.10 a day,"

said Dennis "I was paying 65 cents a week in super. My father

was on the top rate of $.1.75 a week. So you didn't get much when

you retired in those days. You got bugger all. But it's a good

super scheme now. Most of the blokes my age are going to retire

with a few bob to see them through. Charlie should be applauded

for what he did. And for young blokes it can only get better."

Now after another protracted battle Dennis and his workmates around

the nations wharves will get an extra 'few bob' - around $60 a

week for all weeks in SERF.

Agreement has been reached on distribution of a $88 million surplus

in the Stevedoring Employees Retirement Fund.

Surplus monies do not automatically improve benefits for workers.

In most funds they only benefit the employer. SERF and the SRF

are funds that have secured better conditions through negotiation,"

said Assistant National Secretary and SERF board member Jim Tannock.

SERF has both employer and union representatives on its board.

Negotiations were difficult because employers headed by Chris

Corrigan wanted to take their share of the surplus out of the

fund. This was unacceptable to the union. But in June this year,

after numerous talks, break downs in negotiations and legal opinions,

agreement was reached.

Both employees and employers are down for a contribution holiday

and members will all enjoy higher benefits.

"The outcome is a far superior share of surplus than ever before,"

said Tannock. "It improves each member's retirement fund by an

average of $40 for every week they have been in the industry.

And that's without counting the salary sacrifice tax concessions

and the contribution holiday which is still to come."

It means, for example, that someone 45 years of age with 20 years

in the industry has picked up an extra $44,000.

Guaranteed wage earners, part timers and supps also get better

benefits of around $18/week for all weeks of service in the fund.

Backdating the agreement to July 2000 was to ensure that members

who left while negotiations were still under way also shared in

the surplus benefits. So members and employers have also been

asked to pay a 'one off' (of around $200 for the past year) for

the extra contributions which comes with the better benefits.

Members can also look forward to a contribution holiday for five

years commencing July 1, 2003. The holiday does not start right

away because employers have still to use up their last surplus.

They will then also get a contribution holiday together with employers

and that means more money to take home or to make extra super

contributions.

Another new benefit arising from the surplus agreement is the

extension of salary sacrifice to members' contributions. Changes

to the trust deed mean members are only paying 15 cents in the

dollar tax instead of 47 cents on their superannuation.

"We are now able to salary sacrifice our compulsory contribution,"

said Tannock. This gives us a tax benefit $18 week."

Finally the changes to the trust deed now provide for 12 monthly

reviews. This gives the union the opportunity to monitor any future

surplus and call for further review.

"The surplus outcome is a good outcome for all members," said

Deputy National Secretary and SERF Director Mick O'Leary. "It

gives all members the opportunity to plan for the future. It gives

older members a chance to retire early, in turn creating permanent

job opportunities for the non permanent labour. It also gives

younger members improved benefits as well as allowing them to

bank superannuation savings via salary sacrifice. This gives them

a real future."

Stevedoring members have already received notification setting

out the extra superannuation credited to them last year. The annual

mailout of SERF statements spells out to each individual member

how much they have gained from the surplus.

SERF is holding seminars nationwide to keep members up to date

on the changes.

Meanwhile National Secretary Paddy Crumlin reports that both maritime

super funds, SERF and SRF, listed as the top two industry funds

in the country by Business Review Weekly last year, have posted

crediting rates of around 6.7 and 7.2 per cent respectively.

"This follows an extraordinarily difficult year on the financial

markets, particularly internationally where the International

Market Index was well in the negative," said Crumlin. "Many Australian

super funds have recorded negative or small marginal increases

of an average 5 per cent. The good performance of both funds has

taken place over many years and secured great increases in financial

security to maritime workers."