Treasury Managed Fund

What is the TMF

The Treasury Managed Fund (TMF) is a self-insurance scheme created by the NSW Government to insure its agencies' risks. The TMF in relation to workers compensation covers the majority of government employees, approximately 8% of workers in NSW.

How the TMF works

While government employers are considered self-insurers under the legislation, the TMF is administered by the NSW Self Insurance Corporation (SICorp). icare has statutory functions to provide claims administration services to SICorp. In providing these services icare utilises a number of claims agents to act on its behalf.

For further information contact icare on 13 44 22.

Treasury Managed Fund Review

In 2024, SIRA released a compliance audit and performance review of the TMF government employers’ workers compensation claims. This review, conducted under section 22 of the Workplace Injury Management & Workers Compensation Act 1998, had 2 objectives:

1. Assess whether TMF agencies’ workers compensation activities comply with workers compensation legislation and best practices.
2. Evaluate the interaction between TMF agencies, claims managers, and NSW Self Insurance Corporation (SiCorp)/icare in managing workers compensation claims.

The review provides insight into the current situation and lays the foundation for improvement, identifying key issues and suggesting actions for resolution.

Read the Treasury Managed Fund Review Report