The Treasurer is responsible for the administration and development of the State’s superannuation legislation and policy, for the oversight and prudential regulation of GESB and the GES Fund as its employer sponsor, guarantor and regulator, and the application of the State’s Heads of Government Agreement with the Commonwealth regarding its superannuation arrangements.
The Treasurer’s Guidelines are instrumental in establishing the rules and boundaries for the investment and management of fund assets. They include the:
The Treasurer may also issue guidelines to GESB on other matters relating to State superannuation, such as the Treasurer’s Guidelines for Compliance with Stronger Super which include the provision of MySuper-compliant default plans for employees.
Western Australia is a signatory to the Commonwealth’s National Superannuation Standards Heads of Government Agreement, where it has agreed that the State’s superannuation arrangements will, as far as practicable, conform with the Commonwealth’s retirement incomes policy.