Parliamentary Retiring Allowances Trust

The Parliamentary Retiring Allowances Trust (the Trust) was established by section 5 of the Parliamentary Contributory Superannuation Act 1948 (the Act). The Act provides a contributory superannuation scheme for all parliamentarians who entered Parliament before 9 October 2004. The Trust has responsibility for matters where discretion has been given under the Act. The Trust consists of five trustees - the Minister for Finance (or a Minister authorised by the Minister for Finance) who is the presiding trustee, plus two Senators and two Members of the House of Representatives appointed by their respective Houses.