TREASURER Tim Pallas and Minister for Roads and Road Safety Ben Carroll have announced the outcome of the 15-month VicRoads Modernisation process.

A consortium of Aware Super, Australian Retirement Trust and Macquarie Asset Management was selected to deliver the VicRoads Modernisation process, which included upgraded customer service systems, better Custom Plates services and user-friendly registration and licensing.

The joint venture is a 40-year partnership in which the state government retains ownership of VicRoads, while generating $7.9 billion in upfront proceeds, which will be invested in the new Victorian Future Fund to help manage pandemic debt.

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. 

Under the changes, learners and probationary licences as well as online testing will be made free. 

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.