May 11, 2025 • 15 mins
Did you know that some politicians still get paid an annual salary (or in this case, a ‘pension’) upon retiring from Parliament?
The scheme no longer exists, but politicians who were in Parliament prior to it being axed in 2004 are still eligible.
And the reason we are talking about it now is because Peter Dutton, who just lost his seat of Dickson, is one of the eligible politicians.
We thought it was the perfect time to explore this little-known scheme that will see millions of dollars being paid out to former politicians for decades to come.
Hosts: Billi FitzSimons and Sam Koslowski
Producer: Orla Maher
Want to support The Daily Aus? That's so kind! The best way to do that is to click ‘follow’ on Spotify or Apple and to leave us a five-star review. We would be so grateful.
The Daily Aus is a media company focused on delivering accessible and digestible news to young people. We are completely independent.
Want more from TDA?
Subscribe to The Daily Aus newsletter
Subscribe to The Daily Aus’ YouTube Channel
Have feedback for us?
We’re always looking for new ways to improve what we do. If you’ve got feedback, we’re all ears. Tell us here.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Already and this is the Daily This is the Daily OS.
Oh now it makes sense. Good morning and welcome to
the Daily OS. It's Monday, the twelfth of May. I'm
Billy fitz Simon's I'm Sam because Looski. Did you know
(00:21):
that some politicians still get paid an annual salary or
in this case, a pension upon retiring from parliament. You didn't, Well,
this podcast is for you. Then. Now the scheme no
longer exists, but politicians who were in Parliament prior to
it being acted in two thousand and four are still eligible.
(00:41):
And the reason we are talking about it now is
because Peter Dutton, who just lost his seat of Dixon
and so will be removed from Parliament after twenty four years,
is one of the eligible politicians. We thought it was
the perfect time to explore this little known scheme that
will see millions of dollars being paid out to form
a politicians for decades to come.
Speaker 2 (01:06):
The first thing I think of when you start talking
about this is those ads for the lottery which say
you're going to get paid twenty five thousand dollars every
year for the rest of your life.
Speaker 1 (01:16):
I haven't seen those ads.
Speaker 2 (01:17):
Oh, well, you should watch more daytime commercial television. But
it's this amazing idea that they could just be getting
this salary forever. Where did this all come from?
Speaker 1 (01:27):
Okay, so this story starts in nineteen forty eight, and
that is the year that's something called the Parliamentary Contributory,
which is a tongue twister super annuation scheme or we'll
call it PCSS was created. And this was a scheme
that mandated, so it became by law required that politicians
(01:48):
who had completed twelve years of service in parliament be
paid a certain amount each year once they leave parliament.
Speaker 2 (01:56):
I guess then kind of a milestone for politicians to
work towards and then they're kind of set for life.
Speaker 1 (02:03):
Yeah, And the amount owed is dependent on how long
they were in parliament for and also if they held
any senior roles such as being a minister. Another interesting
thing about it is that how much you are owed
is dependent on what the current salary of an MP is. Interesting,
so if you were in parliament in the nineteen eighties,
for example, obviously the salary that you got then is
(02:25):
not the salary that MPs today get. Sure, but what
you're being paid is dependent on what MPs today get paid, right,
And like I said, it's dependent on how long you
were there for. So if you were in parliament for
say fifteen years, you got more money than someone who
was in parliament for twelve years. And if you were
a Minister for Education, let's say, then you got more
than someone who was a backbencher.
Speaker 2 (02:46):
And is the reason all of this came into existence
the same way that employers think about like long service
leave or something.
Speaker 1 (02:52):
Yeah, kind of it was well in nineteen forty eight.
How super annuation existed then is nothing like how it
exists today, And so that was one of the primary
reasons that this existed. It was seen as a way
to entice people to get into politics because a lot
of people would have been leaving the private sector where
they may have been owed something like long service leave,
(03:14):
like you said, and so this wasn't way to entice
people to get into politics.
Speaker 2 (03:19):
Okay.
Speaker 1 (03:19):
Another reason is that it was seen as harder for
a politician to re establish their career once their parliamentary
term was over.
Speaker 2 (03:29):
Wow. Interesting, So you had a situation where they established
this scheme because people were leaving private jobs to enter
politics and then perhaps struggling to get jobs after being
in politics. How weird that today, I was going to say,
it's kind of the opposite.
Speaker 1 (03:42):
Yeah, it's not really the case that it's harder to
find a job after politics.
Speaker 2 (03:46):
I would think, probably say it's easier. Like we see
a lot of politicians move into the private sector sitting
on boards and becoming parliamentary advisors or strategy advisors for
private companies and earning a lot more than they didn't.
Speaker 1 (03:59):
Enroll them exactly. But I think the big reason for
this scheme existing was because it was a form of
superannuation and it was a way to pay people after
they retired, which when this was created, I mean superannuation
wasn't even mandatory in Australia until nineteen ninety two, So
you have to remember this was not created now, this
(04:20):
was created at a certain period in time when things
were very different.
Speaker 2 (04:23):
And you mentioned before that it ended in two thousand
and four. Yes, what were the reasons that they wound
this program up?
Speaker 1 (04:29):
Yeah, so it was abolished in two thousand and four
by then Prime Minister John Howard. It was actually an
idea brought forward by Mark Latham, who at the time
was Opposition leader and the leader of the Labor Party. Now,
the Labor Party and the Coalition were gearing up for
an election at the time. Mark Latham brought this idea
(04:49):
forward and John Howard responded by saying, I don't necessarily
agree with this position, but I don't want this to
become a partisan debate, so we're just going to abolish
and he recognized that it was seen as too generous
by community standards. I actually found a clip of John
Howard announcing that it was going to be abolished, which
(05:10):
I thought I would play.
Speaker 3 (05:11):
There is a community perception that this sufers too generous.
I think the adverable package is not too generous, that
people think the super is generous, and rather than listing
drift on for months as the subject of a partisan
political debate, I've decided to act immediately to get it
off the agenda as a partisan political issue.
Speaker 1 (05:34):
Now, although it was dismantled, this scheme is still applicable
to anyone who entered Parliament before the two thousand and
four federal election. For anyone who was elected after that date,
there is a different scheme that exists, and it's just
more in line with how super anuation works for everyone today.
Speaker 2 (05:52):
So I guess if you entered Parliament before that two
thousand and four cutoff date, you essentially kind of signed
terms and conditions. Yes, that still need to be a
please for the rest of your life.
Speaker 1 (06:01):
Yeah, I guess it must have been part of their
contractor that they signed at the time.
Speaker 2 (06:05):
Well, there'll be quite a few of them, because we
have quite a few long serving members of Parliament. Who
are the politicians who would still be eligible for this?
Speaker 1 (06:12):
I thought I would turn this back on you. Who
do you think would still be eligible for this? Or
how many politicians that are in Parliament today? Do you
think we're in parliament prior to two thousand and four?
Speaker 2 (06:25):
Okay, so we've got we've got one hundred and fifty
in the lower House, and how many senators are there?
Speaker 1 (06:30):
About seventy I think.
Speaker 2 (06:32):
Okay, so let's call it to twenty. I'm going to
say that there was twenty five percent of them.
Speaker 1 (06:37):
Wow, is that right? No? No, much smaller than that.
Speaker 2 (06:42):
Okay, So it just feels like an old institution.
Speaker 1 (06:45):
Yes, ASTI politics totally fair. No, So there are actually
only six remainings after the election that we just had,
there are now only six that are still in Parliament
and were there prior to two thousand and four. Can
you name many of.
Speaker 2 (06:59):
Them current members?
Speaker 1 (07:01):
Yes? Alban easy, Yes, Tick came in in nineteen ninety six.
How's this audio experience for the listeners?
Speaker 2 (07:10):
Oh my god, this is really challenging.
Speaker 1 (07:12):
Should I go through them?
Speaker 2 (07:13):
It's like because I'm thinking, like the oldest people that
can possibly imagine in parliament.
Speaker 1 (07:18):
I mean, honestly, the ones they're not that old. They
must have just gone into Parliament when they were relatively.
Speaker 2 (07:25):
Yes, fineby Joyce.
Speaker 1 (07:27):
No, no, let me tell you someone them. Tanya Plibasak.
Speaker 2 (07:31):
Wow.
Speaker 1 (07:31):
She was first elected in nineteen ninety eight, around the
same time as Anthony Alberanzi. Catherine King, who is a
Labor MP. I don't think she's as well known as
the other ones, but she was first elected in two
thousand and one. Penny One, who I'm sure you'll be
familiar with, she was first elected to that.
Speaker 2 (07:46):
I approached this problem the wrong way.
Speaker 1 (07:48):
But yeah, yes, Susan Lee.
Speaker 2 (07:51):
Buying for the leadership of the Liberal Party.
Speaker 1 (07:53):
Yes, and how could you forget Bob Catter first elected
nineteen ninety three.
Speaker 2 (08:00):
You've got that group of six, which is actually a
much more diverse but also quite a powerful group. Yes, six, Yes,
then I would have thought.
Speaker 1 (08:07):
Yes, they have been in their job for a long time.
They've been in Parliament for a long time, so.
Speaker 2 (08:12):
They will continue to get that benefit.
Speaker 1 (08:14):
Once they retire. But obviously none of them have retired yet.
But why we're talking about it today, or why it's
come up in the news recently, is because Peter Dunnan
has obviously just retired from Parliament and he is now
eligible for this.
Speaker 2 (08:28):
We're going to be back with the rest of the
deep Dive after a quick message from our sponsor.
Speaker 1 (08:35):
Now, the equation to work out exactly how much he
will get is complex, like literally the most complex I think.
I sat at my desk for an hour just trying
to figure this out.
Speaker 2 (08:46):
It is.
Speaker 1 (08:47):
I don't know if you know this about me, Sam,
but I did extension mass times, so I pride myself
on being able to do mass. It was just it's
dependent on how many roles for how many years, Like
sometimes it comes down to how many days you were
in a certain position for and that all comes into
how much you get once you retire. But news publication
(09:09):
cry he had much more stamina than me, and they
did do the maths, and they estimated it to be
about two hundred and fifty eight thousand dollars a year,
which sounds about based on the numbers that I saw
in the in the report. Yea, and that's what So
that means, just to reiterate that Peter Dunnan will get
two hundred and fifty eight thousand dollars a year every
(09:32):
single year for the rest of his life.
Speaker 2 (09:34):
And I wonder if he's allowed to also earn income
through other means silent, so it's not exclusively you have
to earn it. So you could safely assume that he'll
ran to the private sector most likely see on some boards,
do some speaking events, yep, do some advisory work, write
a book. There's so many different ways that politicians can
make money after their career. In camera wraps up. Yes,
(09:56):
that you could conceive that that two hundred and fifty
will turn into five hundred grand pretty quick.
Speaker 1 (10:00):
Yeah, you're talking about cumulatively with whatever other endeavors he
exact signed.
Speaker 2 (10:05):
Yeah, it's a nice kind of safety net to have
until you die.
Speaker 1 (10:09):
I mean, that's a very high income. It is on
the higher end of the amount available, and it's because
he was in parliament for so long, so twenty four years,
like I mentioned, and he also held several ministerial roles
when the coalition was in government. So that's why it
definitely is on the higher end.
Speaker 2 (10:28):
And so if we zoom out and we think about
those six current members, but also then everyone alive who
was in politics before two thousand and four, how much
is this program actually costing us the Australian tax payer.
Speaker 1 (10:43):
So the Department of Finance ran the numbers in a
report it released in twenty twenty three. It found that
there are more than four hundred retired politicians and their
spouses who are still being paid this annual payment. In
terms of how much it is costing us in the
current financial year, so twenty twenty four twenty twenty five,
(11:05):
the government will spend about forty eight million dollars on
this scheme and that's this year alone. Now, what I
found interesting is that they expect that these payments will
still be being paid up until at least twenty sixty.
Speaker 2 (11:21):
Three, isn't it remarked? I mean that makes sense. I
mean we're thinking then about forty years.
Speaker 1 (11:25):
Yeah, you're trying to start doing the mathspect Jim match,
it goes a bit dark very quickly.
Speaker 2 (11:30):
But isn't it fascinating that a reform that was wrapped
up formally in two thousand and four will actually come
out of you know, out of play sixty years.
Speaker 1 (11:39):
Yeat so interesting and I think it's something that we
don't hear a lot about because it did wrap up
twenty years ago. But it's just interesting how a policy
like you said that you know, first started what is
the mass nearly ninety years ago, eighty years ago, it
will continue to cost tax payers millions of dollars for
decades after it ended.
Speaker 2 (12:01):
Can I ask you a question to wrap up, Billy,
what's your personal opinion on whether politicians should be paid
after I mean, whether it's this program or another program?
Do you think politicians should be entitled to payments after
they leave politics?
Speaker 1 (12:15):
Well? Putting me on this spot, especially when we always
say TDA, we don't.
Speaker 2 (12:18):
Do opinions, well, this would be a non part as
an opinion applying to everyone on all sides of politics.
Speaker 1 (12:22):
That's true. I think that what they have now, which
is just a superannuation scheme that's in line with what
everyone else gets, makes sense.
Speaker 2 (12:30):
But I don't think that but you don't get a
superannuation payment for the rest of your life if you
work in public health.
Speaker 1 (12:36):
No, but you get money put aside that you then
have access to for the rest of your life. And
I think that, you know, politicians should have that just
as everyone else should have that. But I think a
scheme like this. But like I said, it was do
you know that quote you can't judge the past with
the spirit of the present? I think, lovely have you
never heard that? That's nice one of my favorite quotes.
(12:57):
And I think that you know, it made sense for
the time when it was created, but it doesn't make
sense today.
Speaker 2 (13:03):
That is a really interesting way to start our Monday morning. Billy.
Speaker 1 (13:06):
Thanks, Are you going to tell us your opinion?
Speaker 2 (13:08):
Oh? Okay, I think I need to understand a little
bit more about how politicians earn money whilst they're in parliament.
Speaker 1 (13:17):
So like a true politician, Sam, I need to understand
how they get on super Yes, they get super.
Speaker 2 (13:23):
Well, so then why do they get extra super well.
Speaker 1 (13:25):
So here they did do like salary sacrifice, but it
was a much smaller percentage and a much smaller amount
than what they are now entitled to In the years
after they retire, so it doesn't It's not like how
superannuation works today, where you get a certain amount put
aside and then you get access to that later. They
were putting a certain amount aside, but they get much
more when they retire, Like a lot more is being
(13:48):
spent out for them.
Speaker 2 (13:49):
Wow, that's so interesting. I think my view is that
it should be relevant to how much they're earning from
other things, and I think that it should be a
safety net that's one hundred sent there if they can't
enter the private sector, but if they're delivering big speeches
and writing books and sitting on boards, maybe there should
be some sort of way for that to kind of
(14:10):
beat tones down a little bit. But neither of us
are in charge, and that's okay because we're here here
in the pod and we'll make a difference our own
way and definitely not have as much money as politicians do. Lives.
Thank you so much for joining us on this morning's pod.
That was a really interesting chat. Thank you, Billy, and
thank you for joining us wherever you're listening or watching us.
We hope you have a really great week and get
(14:32):
through some of the kind of you know, struggles of
the early Monday morning. Itis. You can always check out
our newsletter. We've got you know, picture this game. We've
got stuff going on on our Instagram. There's lots to
check out to get a spring in your step. We'll
be back again with the headlines in the afternoon. Until then,
see you later.
Speaker 1 (14:49):
Bye.
Speaker 2 (14:53):
My name is Lily Maddon and I'm a proud Arunda
Bunjelung Chalcoltin woman from Gadigo Country.
Speaker 1 (15:00):
Daily oz acknowledges that this podcast is recorded on the
lands of the Gadigal people and pays respect to all
Aboriginal and torrest Rate island and nations. We pay our
respects to the first peoples of these countries, both past
and present.
Already and this is the Daily This is the Daily OS.
Oh now it makes sense. Good morning and welcome to
the Daily OS. It's Monday, the twelfth of May. I'm
Billy fitz Simon's I'm Sam because Looski. Did you know
(00:21):
that some politicians still get paid an annual salary or
in this case, a pension upon retiring from parliament. You didn't, Well,
this podcast is for you. Then. Now the scheme no
longer exists, but politicians who were in Parliament prior to
it being acted in two thousand and four are still eligible.
(00:41):
And the reason we are talking about it now is
because Peter Dutton, who just lost his seat of Dixon
and so will be removed from Parliament after twenty four years,
is one of the eligible politicians. We thought it was
the perfect time to explore this little known scheme that
will see millions of dollars being paid out to form
a politicians for decades to come.
Speaker 2 (01:06):
The first thing I think of when you start talking
about this is those ads for the lottery which say
you're going to get paid twenty five thousand dollars every
year for the rest of your life.
Speaker 1 (01:16):
I haven't seen those ads.
Speaker 2 (01:17):
Oh, well, you should watch more daytime commercial television. But
it's this amazing idea that they could just be getting
this salary forever. Where did this all come from?
Speaker 1 (01:27):
Okay, so this story starts in nineteen forty eight, and
that is the year that's something called the Parliamentary Contributory,
which is a tongue twister super annuation scheme or we'll
call it PCSS was created. And this was a scheme
that mandated, so it became by law required that politicians
(01:48):
who had completed twelve years of service in parliament be
paid a certain amount each year once they leave parliament.
Speaker 2 (01:56):
I guess then kind of a milestone for politicians to
work towards and then they're kind of set for life.
Speaker 1 (02:03):
Yeah, And the amount owed is dependent on how long
they were in parliament for and also if they held
any senior roles such as being a minister. Another interesting
thing about it is that how much you are owed
is dependent on what the current salary of an MP is. Interesting,
so if you were in parliament in the nineteen eighties,
for example, obviously the salary that you got then is
(02:25):
not the salary that MPs today get. Sure, but what
you're being paid is dependent on what MPs today get paid, right,
And like I said, it's dependent on how long you
were there for. So if you were in parliament for
say fifteen years, you got more money than someone who
was in parliament for twelve years. And if you were
a Minister for Education, let's say, then you got more
than someone who was a backbencher.
Speaker 2 (02:46):
And is the reason all of this came into existence
the same way that employers think about like long service
leave or something.
Speaker 1 (02:52):
Yeah, kind of it was well in nineteen forty eight.
How super annuation existed then is nothing like how it
exists today, And so that was one of the primary
reasons that this existed. It was seen as a way
to entice people to get into politics because a lot
of people would have been leaving the private sector where
they may have been owed something like long service leave,
(03:14):
like you said, and so this wasn't way to entice
people to get into politics.
Speaker 2 (03:19):
Okay.
Speaker 1 (03:19):
Another reason is that it was seen as harder for
a politician to re establish their career once their parliamentary
term was over.
Speaker 2 (03:29):
Wow. Interesting, So you had a situation where they established
this scheme because people were leaving private jobs to enter
politics and then perhaps struggling to get jobs after being
in politics. How weird that today, I was going to say,
it's kind of the opposite.
Speaker 1 (03:42):
Yeah, it's not really the case that it's harder to
find a job after politics.
Speaker 2 (03:46):
I would think, probably say it's easier. Like we see
a lot of politicians move into the private sector sitting
on boards and becoming parliamentary advisors or strategy advisors for
private companies and earning a lot more than they didn't.
Speaker 1 (03:59):
Enroll them exactly. But I think the big reason for
this scheme existing was because it was a form of
superannuation and it was a way to pay people after
they retired, which when this was created, I mean superannuation
wasn't even mandatory in Australia until nineteen ninety two, So
you have to remember this was not created now, this
(04:20):
was created at a certain period in time when things
were very different.
Speaker 2 (04:23):
And you mentioned before that it ended in two thousand
and four. Yes, what were the reasons that they wound
this program up?
Speaker 1 (04:29):
Yeah, so it was abolished in two thousand and four
by then Prime Minister John Howard. It was actually an
idea brought forward by Mark Latham, who at the time
was Opposition leader and the leader of the Labor Party. Now,
the Labor Party and the Coalition were gearing up for
an election at the time. Mark Latham brought this idea
(04:49):
forward and John Howard responded by saying, I don't necessarily
agree with this position, but I don't want this to
become a partisan debate, so we're just going to abolish
and he recognized that it was seen as too generous
by community standards. I actually found a clip of John
Howard announcing that it was going to be abolished, which
(05:10):
I thought I would play.
Speaker 3 (05:11):
There is a community perception that this sufers too generous.
I think the adverable package is not too generous, that
people think the super is generous, and rather than listing
drift on for months as the subject of a partisan
political debate, I've decided to act immediately to get it
off the agenda as a partisan political issue.
Speaker 1 (05:34):
Now, although it was dismantled, this scheme is still applicable
to anyone who entered Parliament before the two thousand and
four federal election. For anyone who was elected after that date,
there is a different scheme that exists, and it's just
more in line with how super anuation works for everyone today.
Speaker 2 (05:52):
So I guess if you entered Parliament before that two
thousand and four cutoff date, you essentially kind of signed
terms and conditions. Yes, that still need to be a
please for the rest of your life.
Speaker 1 (06:01):
Yeah, I guess it must have been part of their
contractor that they signed at the time.
Speaker 2 (06:05):
Well, there'll be quite a few of them, because we
have quite a few long serving members of Parliament. Who
are the politicians who would still be eligible for this?
Speaker 1 (06:12):
I thought I would turn this back on you. Who
do you think would still be eligible for this? Or
how many politicians that are in Parliament today? Do you
think we're in parliament prior to two thousand and four?
Speaker 2 (06:25):
Okay, so we've got we've got one hundred and fifty
in the lower House, and how many senators are there?
Speaker 1 (06:30):
About seventy I think.
Speaker 2 (06:32):
Okay, so let's call it to twenty. I'm going to
say that there was twenty five percent of them.
Speaker 1 (06:37):
Wow, is that right? No? No, much smaller than that.
Speaker 2 (06:42):
Okay, So it just feels like an old institution.
Speaker 1 (06:45):
Yes, ASTI politics totally fair. No, So there are actually
only six remainings after the election that we just had,
there are now only six that are still in Parliament
and were there prior to two thousand and four. Can
you name many of.
Speaker 2 (06:59):
Them current members?
Speaker 1 (07:01):
Yes? Alban easy, Yes, Tick came in in nineteen ninety six.
How's this audio experience for the listeners?
Speaker 2 (07:10):
Oh my god, this is really challenging.
Speaker 1 (07:12):
Should I go through them?
Speaker 2 (07:13):
It's like because I'm thinking, like the oldest people that
can possibly imagine in parliament.
Speaker 1 (07:18):
I mean, honestly, the ones they're not that old. They
must have just gone into Parliament when they were relatively.
Speaker 2 (07:25):
Yes, fineby Joyce.
Speaker 1 (07:27):
No, no, let me tell you someone them. Tanya Plibasak.
Speaker 2 (07:31):
Wow.
Speaker 1 (07:31):
She was first elected in nineteen ninety eight, around the
same time as Anthony Alberanzi. Catherine King, who is a
Labor MP. I don't think she's as well known as
the other ones, but she was first elected in two
thousand and one. Penny One, who I'm sure you'll be
familiar with, she was first elected to that.
Speaker 2 (07:46):
I approached this problem the wrong way.
Speaker 1 (07:48):
But yeah, yes, Susan Lee.
Speaker 2 (07:51):
Buying for the leadership of the Liberal Party.
Speaker 1 (07:53):
Yes, and how could you forget Bob Catter first elected
nineteen ninety three.
Speaker 2 (08:00):
You've got that group of six, which is actually a
much more diverse but also quite a powerful group. Yes, six, Yes,
then I would have thought.
Speaker 1 (08:07):
Yes, they have been in their job for a long time.
They've been in Parliament for a long time, so.
Speaker 2 (08:12):
They will continue to get that benefit.
Speaker 1 (08:14):
Once they retire. But obviously none of them have retired yet.
But why we're talking about it today, or why it's
come up in the news recently, is because Peter Dunnan
has obviously just retired from Parliament and he is now
eligible for this.
Speaker 2 (08:28):
We're going to be back with the rest of the
deep Dive after a quick message from our sponsor.
Speaker 1 (08:35):
Now, the equation to work out exactly how much he
will get is complex, like literally the most complex I think.
I sat at my desk for an hour just trying
to figure this out.
Speaker 2 (08:46):
It is.
Speaker 1 (08:47):
I don't know if you know this about me, Sam,
but I did extension mass times, so I pride myself
on being able to do mass. It was just it's
dependent on how many roles for how many years, Like
sometimes it comes down to how many days you were
in a certain position for and that all comes into
how much you get once you retire. But news publication
(09:09):
cry he had much more stamina than me, and they
did do the maths, and they estimated it to be
about two hundred and fifty eight thousand dollars a year,
which sounds about based on the numbers that I saw
in the in the report. Yea, and that's what So
that means, just to reiterate that Peter Dunnan will get
two hundred and fifty eight thousand dollars a year every
(09:32):
single year for the rest of his life.
Speaker 2 (09:34):
And I wonder if he's allowed to also earn income
through other means silent, so it's not exclusively you have
to earn it. So you could safely assume that he'll
ran to the private sector most likely see on some boards,
do some speaking events, yep, do some advisory work, write
a book. There's so many different ways that politicians can
make money after their career. In camera wraps up. Yes,
(09:56):
that you could conceive that that two hundred and fifty
will turn into five hundred grand pretty quick.
Speaker 1 (10:00):
Yeah, you're talking about cumulatively with whatever other endeavors he
exact signed.
Speaker 2 (10:05):
Yeah, it's a nice kind of safety net to have
until you die.
Speaker 1 (10:09):
I mean, that's a very high income. It is on
the higher end of the amount available, and it's because
he was in parliament for so long, so twenty four years,
like I mentioned, and he also held several ministerial roles
when the coalition was in government. So that's why it
definitely is on the higher end.
Speaker 2 (10:28):
And so if we zoom out and we think about
those six current members, but also then everyone alive who
was in politics before two thousand and four, how much
is this program actually costing us the Australian tax payer.
Speaker 1 (10:43):
So the Department of Finance ran the numbers in a
report it released in twenty twenty three. It found that
there are more than four hundred retired politicians and their
spouses who are still being paid this annual payment. In
terms of how much it is costing us in the
current financial year, so twenty twenty four twenty twenty five,
(11:05):
the government will spend about forty eight million dollars on
this scheme and that's this year alone. Now, what I
found interesting is that they expect that these payments will
still be being paid up until at least twenty sixty.
Speaker 2 (11:21):
Three, isn't it remarked? I mean that makes sense. I
mean we're thinking then about forty years.
Speaker 1 (11:25):
Yeah, you're trying to start doing the mathspect Jim match,
it goes a bit dark very quickly.
Speaker 2 (11:30):
But isn't it fascinating that a reform that was wrapped
up formally in two thousand and four will actually come
out of you know, out of play sixty years.
Speaker 1 (11:39):
Yeat so interesting and I think it's something that we
don't hear a lot about because it did wrap up
twenty years ago. But it's just interesting how a policy
like you said that you know, first started what is
the mass nearly ninety years ago, eighty years ago, it
will continue to cost tax payers millions of dollars for
decades after it ended.
Speaker 2 (12:01):
Can I ask you a question to wrap up, Billy,
what's your personal opinion on whether politicians should be paid
after I mean, whether it's this program or another program?
Do you think politicians should be entitled to payments after
they leave politics?
Speaker 1 (12:15):
Well? Putting me on this spot, especially when we always
say TDA, we don't.
Speaker 2 (12:18):
Do opinions, well, this would be a non part as
an opinion applying to everyone on all sides of politics.
Speaker 1 (12:22):
That's true. I think that what they have now, which
is just a superannuation scheme that's in line with what
everyone else gets, makes sense.
Speaker 2 (12:30):
But I don't think that but you don't get a
superannuation payment for the rest of your life if you
work in public health.
Speaker 1 (12:36):
No, but you get money put aside that you then
have access to for the rest of your life. And
I think that, you know, politicians should have that just
as everyone else should have that. But I think a
scheme like this. But like I said, it was do
you know that quote you can't judge the past with
the spirit of the present? I think, lovely have you
never heard that? That's nice one of my favorite quotes.
(12:57):
And I think that you know, it made sense for
the time when it was created, but it doesn't make
sense today.
Speaker 2 (13:03):
That is a really interesting way to start our Monday morning. Billy.
Speaker 1 (13:06):
Thanks, Are you going to tell us your opinion?
Speaker 2 (13:08):
Oh? Okay, I think I need to understand a little
bit more about how politicians earn money whilst they're in parliament.
Speaker 1 (13:17):
So like a true politician, Sam, I need to understand
how they get on super Yes, they get super.
Speaker 2 (13:23):
Well, so then why do they get extra super well.
Speaker 1 (13:25):
So here they did do like salary sacrifice, but it
was a much smaller percentage and a much smaller amount
than what they are now entitled to In the years
after they retire, so it doesn't It's not like how
superannuation works today, where you get a certain amount put
aside and then you get access to that later. They
were putting a certain amount aside, but they get much
more when they retire, Like a lot more is being
(13:48):
spent out for them.
Speaker 2 (13:49):
Wow, that's so interesting. I think my view is that
it should be relevant to how much they're earning from
other things, and I think that it should be a
safety net that's one hundred sent there if they can't
enter the private sector, but if they're delivering big speeches
and writing books and sitting on boards, maybe there should
be some sort of way for that to kind of
(14:10):
beat tones down a little bit. But neither of us
are in charge, and that's okay because we're here here
in the pod and we'll make a difference our own
way and definitely not have as much money as politicians do. Lives.
Thank you so much for joining us on this morning's pod.
That was a really interesting chat. Thank you, Billy, and
thank you for joining us wherever you're listening or watching us.
We hope you have a really great week and get
(14:32):
through some of the kind of you know, struggles of
the early Monday morning. Itis. You can always check out
our newsletter. We've got you know, picture this game. We've
got stuff going on on our Instagram. There's lots to
check out to get a spring in your step. We'll
be back again with the headlines in the afternoon. Until then,
see you later.
Speaker 1 (14:49):
Bye.
Speaker 2 (14:53):
My name is Lily Maddon and I'm a proud Arunda
Bunjelung Chalcoltin woman from Gadigo Country.
Speaker 1 (15:00):
Daily oz acknowledges that this podcast is recorded on the
lands of the Gadigal people and pays respect to all
Aboriginal and torrest Rate island and nations. We pay our
respects to the first peoples of these countries, both past
and present.
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com