Following competitive and robust market engagement a consortium of Aware Super, Australian Retirement Trust and Macquarie Asset Management was selected to deliver the VicRoads Modernisation process, bringing benefits to individuals and businesses – including upgraded customer service systems, better Custom Plates services and user-friendly registration and licensing.
The joint venture partners have a strong track record of successfully partnering with governments to deliver services. The partners are Australian industry superannuation funds and long-term investors with combined experience delivering the New South Wales, South Australian, Victorian and Western Australian land titles services, as well as data centres and telecommunications infrastructure.
More than 75 per cent of the Consortium’s funding is coming from Australian superannuation funds – Australian’s retirement savings are being investing back into essential services provided by VicRoads which Victorians rely on every day.
The partnership is the result of a 15-month process that included consultation with VicRoads workers, unions, motorists groups and other stakeholders.
The joint venture is a 40-year partnership in which the Government retains ownership of VicRoads, while generating $7.9 billion in upfront proceeds for the State, which will be invested in the new Victorian Future Fund to help manage our pandemic debt.
The Government has also delivered on its commitment to protect the jobs of existing VicRoads employees, while creating more than 120 new jobs to oversee the partnership, support the IT modernisation process and bolster the Government’s road safety role.
Continued ownership of VicRoads by the Government will ensure control over regulation and policy, data and privacy provisions and pricing of essential fees, with information to remain secure and stored in Australia.
Independent integrity bodies, including the Victorian Ombudsman and the Office of the Victorian Information Commissioner, will continue to provide oversight.
VicRoads will continue to operate state-wide under the established VicRoads brand and there will be no impact to Victorians accessing these vital services.
The Government will also immediately deliver benefits for Victorian drivers through a package that will slash licensing and online testing costs and reward safe driver behaviour.
Under the changes, learners and probationary licences as well as online testing will be made free. Under these changes, aspiring drivers and riders will save up to $51.40 in learner licensing and online testing fees. While probationary drivers will save up to $133.30 in probationary license and online hazard perception testing fees.
Safe drivers who have not incurred demerit points or committed road safety offences in the three years prior to their licence expiring, will be rewarded with the reintroduction of a 25 per cent discount on their licence renewal.
The VicRoads Registration and Licensing business maintains registers of more than 6 million vehicle operators and 5 million driver licence holders, including cars, motorcycles, heavy vehicles and boats.
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