22/12/05
Government Enterprises Minister Eric Ripper today welcomed news that the largest superannuation fund based in Western Australia has achieved $6billion in investment assets.
Mr Ripper said GESB’s assets had grown by more than $1.4billion during the past 12 months and membership had increased to more than 260,000.
“These strong results are helping current and former WA public servants to invest for a comfortable and secure retirement for themselves and their families,” he said.
The Minister said the State Government - as the largest employer in the State - was committed to ensuring the security of its employees during their retirement.
“Superannuation is an important component of workers’ remuneration packages and in the current environment of an increasingly tight labour market, it can also help attract and retain the best people in the WA public sector,” Mr Ripper said.
“I congratulate the GESB board of directors and staff for delivering excellent returns for its members.”
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