Former South Australian Labor treasurer Kevin Foley new presiding member of Super SA board

Former state Labor treasurer and deputy premier Kevin Foley has been appointed to an almost $50,000-a-year job by his former chief of staff Stephen Mullighan.

Former Labor treasurer Kevin Foley has been appointed to an almost $50,000-a-year government job heading Super SA’s board by his former chief of staff, Treasurer Stephen Mullighan.

Mr Foley, who was treasurer and deputy premier from 2002 to 2011, is now a lobbyist and corporate adviser, and until last month spearheaded state Labor’s fundraising arm, SA Progressive Business.

Super SA is the superannuation provider for all SA public sector employees, with $33.2bn in funds under management. It is administered by the SA Superannuation Board, which is appointed by the Treasurer.

Mr Foley replaces as Super SA presiding member the former Port Adelaide Football Club president Greg Boulton, whose term expired, and will be paid $46,435 annually.

The-then state treasurer Kevin Foley (right) makes the finishing touches to his 2009/10 State Budget, watched by his chief of staff Stephen Mullighan, now state Treasurer.

The Opposition has branded as outrageous Mr Mullighan’s decision to hand his former boss a “plum government gig” on “a silver platter”.

Mr Mullighan, who was Mr Foley’s chief of staff from 2007 to 2010, praised his extensive financial management and governance experience in private and public sectors.

“Mr Foley has outstanding knowledge and experience which will benefit the Super SA Board and its members,” said Mr Mullighan.

“His financial and governance credentials speak for themselves and will be an asset

to the organisation.”

Mr Mullighan pointed out SA regained a AAA credit rating during Mr Foley’s time as Treasurer.

Three of the South Australian Superannuation Board’s five members are nominated by the Treasurer, including the presiding member.

The-then Premier Mike Rann (left) and outgoing South Australian treasurer Kevin Foley during their last day in office at Parliament House in Adelaide on October 20, 2011. Picture: AAP Image/ James Baker

Mr Foley in 2018 quit an almost $100,000-a-year role as chairman of Funds SA, which invests funds on behalf of public sector super funds and approved authorities.

He resigned after the Liberals won that March’s state election, saying at the time: “I accept the reality of politics … to the winners, the spoils”.

Mr Foley had been appointed to that role in November, 2015, by his successor as Treasurer, Labor’s Tom Koutsantonis, who declared him “exceptionally qualified” to become chairman of the-then $25bn state government investment fund.

Mr Foley receives a publicly funded annual parliamentary pension of about $200,000, it was revealed in 2013.

The Super SA Board is responsible for several of the state government’s superannuation schemes including Triple S, the Lump Sum Scheme, the Pension Scheme, the Income Scheme, the Flexible Rollover Product and the SA Ambulance Service Superannuation Scheme.

Shadow Treasurer Matt Cowdrey said: ““It’s outrageous that Stephen Mullighan couldn’t look any further than his former boss for this plum government gig that has been handed over on a silver platter.

“Most South Australians could only dream of having a $50,000 pay cheque on top of a generous $200,000 a year pension.”