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Pensions Regulator announces changes to the DC scheme return for 2024
The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
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Australia | Publication | March 2020
In January 2020, Safe Work Australia released the 21st edition of the “Comparative Performance Monitoring Report” which provides trend analysis on the work health and safety and workers’ compensation schemes throughout Australia.1
The data in the report was obtained from the regulatory authorities of each Australian jurisdiction and relates to the period from financial year 2013-2014 to the financial year 2017-2018. The data relating to the Commonwealth government is categorised under the title “Australian Government” throughout the report although the compensation statistics specifically exclude military personnel within the Defence force. Some of the key findings derived from the data include:
It is clear that safety regulatory activity is generally increasing across all the Australian jurisdictions including at the Commonwealth government level. In relation to Comcare enforcement activities, the data showed a “…substantial increase in both the number of proactive workplace visits (up 49 per cent) and reactive workplace visits (up 357 per cent) in 2017-2018 compared with the previous year”4. In addition, the data showed that the number of enforcement notices issued to the Australian Government went up by 141 per cent on the previous year. Comcare’s Inspectorate was noted as “…delivering a higher volume of regulatory activity and increasing the use of statutory notices as tools to improve compliance across the Australian Government jurisdiction”.5 Although no prosecutions were finalised by Comcare during the 2017-2018 period, 4 prosecutions were commenced.
In light of the data concerning mental stress claims, the recommendations made by Marie Boland (in the independent “Review of the model Work Health and Safety Laws final report”) that consideration be given to requiring notification of psychological injuries in the model Work Health and Safety Act or Work Health and Safety Regulations, together with the increasing enforcement activity, means regulatory attention is likely to be focussed on the way Commonwealth agencies are addressing these risks so far as is reasonably practicable to meet their obligations under the legislation.
New Zealand statistics are also included in the Report but are not the subject of this article.
These are defined to relate to work-related injuries or diseases that result in a total absence from work of one working week or more.
Comparative Performance Monitoring Report: Part 1, page 20 (Safe Work Australia, 21st ed).
Comparative Performance Monitoring Report: Part 2, page 9 (Safe Work Australia, 21st ed).
Comparative Performance Monitoring Report: Part 2, page 13 (Safe Work Australia, 21st ed).
Publication
The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
Publication
On July 30, 2024, the Regulator published its market oversight report on how trustees are complying with their environmental, social and governance (ESG) duties, including in respect of climate change.
Publication
We reported last month that the Court of Appeal had agreed with the High Court’s previous judgment that all rule amendments to contracted-out DB schemes between 1997 and 2013 require written actuarial certification. Three pensions professional bodies have now issued a joint statement on the effect of the ruling.
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