Council has been recently informed that it will be required to fork out an estimated $90,000 annually for the next five years to make up a hole in superannuation for the 11 Oberon Council members that are involved in the Defined Benefits Scheme.

Oberon Council general manager, Bruce Fitzpatrick, said many the the State’s local councils have been shocked to learn that they are required to find large amounts in their funding to make up for the hole left by the LGSS. “It is gross mismanagement,” he said.

Mr Fitzpatrick said a number of years ago the LGSS had excellent investment returns and as a result gave the council a contribution holiday.

During that time the council did not have to pay the fund contributions for its members and spent those savings elsewhere.

Mr Fitzpatrick said what has emerged is that the LGSS has not been funding the scheme during this time and now there is a gaping hole in the super funds for the 11 members, which the council will be forced to fill.

Oberon Council, as well as other councils throughout the State, have expressed their dismay at the shortfall.

Oberon Council will now have to include the required funds in its budget, and this may affect other services in the district.