Yes.I think that’s theoretically correct but from memory there’s a bit more to it.
It’s a designated benefit in the old now closed scheme based on your final average Salary over the last X number of months multiplied by a figure based on years and rate of contributions. I could be wrong but I seem to remember some clause that allowed you to contribute to the scheme at the same rate if you had been doing so for over 12 months.
The wash up is that under those rules they’d only miss out on any pay increases for super purposes during that period so rather than dropping back the FAS would remain the same.
It’s pretty funny really, there’s that smell of fear in the air and all the rats are looking for the exit. I bet the shredders are getting a work out and the private staffers will be looking for new jobs haha.
My understanding was that it's based on your last 3 years average salary.
So the drop from front bench to back bench is massive.
Hence getting out when their income is at its peak.
Would be nice if politicians applied the same austerity measures to themselves.
More chance of seeing a Saints threepeat lol...