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Australian Reward Investment Alliance
The Australian Reward Investment Alliance (ARIA) is a superannuation trustee for Australian Government employees. It manages three superannuation schemes, the Commonwealth Superannuation Scheme (CSS), the Public Sector Superannuation Scheme (PSS) and the Public Sector Superannuation Accumulation Plan (PSSap). It was set up under the Australian Government Superannuation Act 1990' and is a statutory corporation. The current ARIA Board is an amalgamation of the PSS Board and the CSS Board which were, respectively, the individual Trustees for the PSS and CSS. ARIA is trustee for over A$18 billion of funds under management,ARIA Annual Report to Parliament (2006-2007): Executive Summary, p. xvi and has 325,578 members. See also ...
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Superannuation
A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions. Called ''retirement plans'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Government
The Australian Government, also known as the Commonwealth Government, is the national government of Australia, a federal parliamentary constitutional monarchy. Like other Westminster-style systems of government, the Australian Government is made up of three branches: the executive (the prime minister, the ministers, and government departments), the legislative (the Parliament of Australia), and the judicial. The legislative branch, the federal Parliament, is made up of two chambers: the House of Representatives (lower house) and Senate (upper house). The House of Representatives has 151 members, each representing an individual electoral district of about 165,000 people. The Senate has 76 members: twelve from each of the six states and two each from Australia's internal territories, the Australian Capital Territory and Northern Territory. The Australian monarch, currently King Charles III, is represented by the governor-general. The Australian Government in its executive ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commonwealth Superannuation Scheme
A commonwealth is a traditional English term for a political community founded for the common good. Historically, it has been synonymous with "republic". The noun "commonwealth", meaning "public welfare, general good or advantage", dates from the 15th century. Originally a phrase (the common-wealth or the common wealth – echoed in the modern synonym "public wealth"), it comes from the old meaning of "wealth", which is "well-being", and is itself a loose translation of the Latin res publica (republic). The term literally meant "common well-being". In the 17th century, the definition of "commonwealth" expanded from its original sense of "public welfare" or "wikt:commonweal, commonweal" to mean "a state in which the supreme power is vested in the people; a republic or democracy, democratic state". The term evolved to become a title to a number of political entities. Three countries – Australia, the Bahamas, and Dominica – have the official title "Commonwealth", as do four U.S. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Sector Superannuation Scheme
In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociology, sociological concept of the ''Öffentlichkeit'' or public sphere. The concept of a public has also been defined in political science, psychology, marketing, and advertising. In public relations and communication science, it is one of the more ambiguous concepts in the field. Although it has definitions in the theory of the field that have been formulated from the early 20th century onwards, and suffered more recent years from being blurred, as a result of conflation of the idea of a public with the notions of audience, market segment, community, constituency, and stakeholder. Etymology and definitions The name "public" originates with the Latin ''wikt:publicus#Latin, publicus'' (also ''wikt:poplicus#Latin, poplicus''), from ''wikt:populus#Latin, populus'', to the Engli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Sector Superannuation Accumulation Plan
In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the ''Öffentlichkeit'' or public sphere. The concept of a public has also been defined in political science, psychology, marketing, and advertising. In public relations and communication science, it is one of the more ambiguous concepts in the field. Although it has definitions in the theory of the field that have been formulated from the early 20th century onwards, and suffered more recent years from being blurred, as a result of conflation of the idea of a public with the notions of audience, market segment, community, constituency, and stakeholder. Etymology and definitions The name "public" originates with the Latin '' publicus'' (also '' poplicus''), from '' populus'', to the English word 'populace', and in general denotes some mass population ("the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Government Future Fund
The Future Fund is an independently managed sovereign wealth fund established in 2006 to strengthen the Australian Government's long-term financial position by making provision for unfunded superannuation liabilities for politicians and other public servants that will become payable during a period when an ageing population is likely to place significant pressure on the Commonwealth's finances. In 2021 the fund had US$143.7 billion in assets under management. The board of the Future Fund also manages another five public asset funds, giving it responsibility for investing over A$210 billion on behalf of the Australian Government. Purpose The legislation establishing the Future Fund describes its main object as being 'to strengthen the Commonwealth's long-term financial position'. While legislation permits withdrawals from the fund from 1 July 2020, the government indicated in 2017 it intends to allow the fund to continue to accumulate until at least 2026/27 before making withd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Superannuation In Australia
In Australia, superannuation, or just super, is the term for retirement pension benefit funds. Employers make compulsory contributions into these funds on behalf of their employees. Superannuation is compulsory for all employed people working and residing in Australia. The total balance of a person's superannuation is then used to provide an income stream upon reaching retirement. Federal law dictates minimum amounts that employers must contribute to the super accounts of their employees, on top of standard wages or salaries. Most employees have their super contributed to large funds - either industry funds (not-for-profit mutual funds, managed by boards composed of industry stakeholders), or retail funds (for-profit commercial funds, principally managed by financial institutions). However, some Australians can have their super deposited into self-managed superannuation funds. The Australian Government outlines a set percentage of employee income that should be paid into a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
