Conditions of Service Reserve
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WRITTEN QUESTIONS
11th Assembly
15/07/2010
185. Conditions of Service Reserve
Mr Elferink to for Treasurer
QUESTION
ANSWER
Answered on 11/08/2010
No. 185
COSR is a segregated pool of investments set aside for Northern Territory Government unfunded superannuation liabilities. The valuation of these funds is affected by market conditions each year.
From 2000-01 to 2009-10 the value of COSR has increased by $234.7 million with the Northern Territory Government providing an additional $150 million and $20 million in 2006-07 and 2007-08 respectively.
The decline of the COSR in 2007-08 and 2008-09 was due to the effects of the global financial crisis. However, the average performance return of the COSR for the last 7 years to 2009-10 is 7.8 per cent being higher than a market based benchmark of 5.8 per cent.
The value of COSR for each financial year from 2000-01 to 2009-10 is provided in attachment A
WRITTEN QUESTIONS
11th Assembly
15/07/2010
185. Conditions of Service Reserve
Mr Elferink to for Treasurer
QUESTION
1. Would you please provide the value amounts at the end of each financial year for the Conditions of Service Reserve for the past decade.
ANSWER
Answered on 11/08/2010
No. 185
LEGISLATIVE ASSEMBLY OF THE NORTHERN TERRITORY
WRITTEN QUESTION
WRITTEN QUESTION
Conditions of Service Reserve
1. Would you please provide the value amounts at the end of each financial year for the Conditions of Service Reserve for the past decade. From 2000-01 to 2009-10 the value of COSR has increased by $234.7 million with the Northern Territory Government providing an additional $150 million and $20 million in 2006-07 and 2007-08 respectively.
The decline of the COSR in 2007-08 and 2008-09 was due to the effects of the global financial crisis. However, the average performance return of the COSR for the last 7 years to 2009-10 is 7.8 per cent being higher than a market based benchmark of 5.8 per cent.
The value of COSR for each financial year from 2000-01 to 2009-10 is provided in attachment A
Last updated: 04 Aug 2016