8 Jun 2011

MP reveals super package in valedictory speech

7:02 am on 8 June 2011

During his valedictory speech, Mr Carter said MPs are unfairly criticised for their super schemes, and made public his own details.

He was making the point that MPs' superannuation is taken from their after-tax salary, rather than being some sort of add-on.

Mr Carter told Parliament he contributed $33,000 a year for the first 20 years, then $29,000 a year after that.

He says on a modest 5% interest rate, that now equals $1.5 million, which is money Mr Carter says he invested out of his own salary package.