Why vote for worse pension?
This proposed new contract has many flaws but to my mind the most serious is the worsening of the pension.
Changing to calculations based on net income means that whatever we pay locums we will lose in superannuation. Hence principals will be paying their locums' superannuation (albeit indirectly) while at the same time reducing their own. There is no change in accrual rates despite the sleight of hand regarding hospital practitioner years as these were always superannuated anyway and we are only being given what we always had.
For those considering ill-health retirement and perhaps working fewer hours there is now the potential to dilute your superannuation and actually reduce your final pension should there be, as in my own practice, a potential significant drop in net income. This would suggest that those indenting to retire on ill-health grounds might be wise to go sooner rather than later.
Improved pensions were meant to be a sine qua non of the negotiations up to two weeks before the deadline, and this remains the mandate of the electorate. Why then should we vote for worse pensions than before?
Dr Henry McKee