Portable long service leave
Coal LSL ensures employees are connected with their long service leave benefits.
Our story
Midway through last century, retention of workers in the black coal industry was a challenge. Portable long service leave was identified as an important requirement to retain skills and support industry longevity. The coal mining industry award was changed to reflect this.
Coal LSL is the Australian Government corporation established to regulate and manage long service leave entitlements on behalf of eligible employees in the black coal mining industry. We manage one of the most generous long service leave programs in Australia.
Our Strategy
Our Strategic Alignment Model guides our decision making, actions and workplace behaviours.
Purpose: We ensure employees are connected with their long service leave benefits.
Vision: We enhance our communities as a contemporary, sustainable long service leave scheme.
Values: Trust | Open | Respect | Care | Honest
Principles: Proportionate, risk-based decision making | Collaboration, transparency and engagement | Stewardship and integrity | Continuous improvement
Strategic Priorities: Prudent financial management | Easy to do business with | Effective operations
How the fund works
Employers pay a monthly levy, which is placed into a pooled fund and invested. Coal LSL manages the balance of the Fund to ensure it holds enough money to cover all eligible employee, long service leave hours, and can withstand market or industry fluctuations and provide for employee long service leave reimbursements.
Investments
Coal LSL's investment policy has a broad objective of achieving a return of CPI + 3% over a rolling eight-year period. Setting an investment strategy consistent with this policy is determined by the Board with the assistance of Asset Consultant Frontier.
Our aim is to protect those assets through the highs and lows of the investment markets, ensuring funds are accessible when employees are entitled to take their long service leave.
Our investment strategy has achieved the following returns during the last five years (ending 30 June).
| 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|
| -5.3% | 17.1% | 0.7% | 7.4% | 8.3% |
Coal LSL has appointed a range of investment managers to invest the Fund's assets, consistent with its investment policy and strategy.
View investment managersCAREERS
Coal LSL is a great place to work. We offer a positive, friendly organisational culture with a genuine focus on supporting our stakeholders.
Current vacancies are advertised through SEEK, including position details. Applications should be submitted online, via SEEK.