Queensland Public Trustee to reduce fees for its most vulnerable customers
Queensland Government media release
The Public Trustee will reduce some of its fees and charges to support vulnerable Queenslanders, following an independent review.
Attorney-General Shannon Fentiman said there will be immediate relief for the majority of Public Trustee customers whose assets are under financial management.
“We recognise the cost-of-living pressures Queenslanders are facing, which is why we will be placing a moratorium on realty property fees and incidental outlay fees for financial management customers” the Minister said.
“We’re also placing a temporary freeze on any increases to all fees and charges.
Minister Fentiman said this is the first review of the Public Trustee’s fees and charges in 20 years.
“Supporting vulnerable Queenslanders is a high priority for this government,” the Attorney said.
“These reforms are another step towards making sure the Public Trustee is a sustainable, modern, and customer-focused organisation, while helping ease cost of living pressures.”
The PricewaterhouseCoopers (PwC) report was commissioned to review the Public Trustee’s fees and charges model, and shows they are generally at or below those charged by Public Trustees in other states and comparable private service providers.
It found that keeping customer fees at current levels, the Public Trustee is only recovering about 65 per cent of the cost of the services it provides, however the majority of customers are receiving a high level of service for low fees.
“We need to do more work before we take steps towards substantial changes to fees across the board,” the Attorney said.
“The Public Trustee is self-funded and has been working hard to keep its fees and charges as low as possible, and this review shows that has been the case.
“The review also advises that more work is needed to inform good decisions about the Public Trustee’s fees and charges model to ensure it’s contemporary, efficient, and sustainable.
“We will also need to carry out public consultation to ensure we understand the community views before making any changes,” the Attorney said.