State Treasurer Troy Buswell has cited potential costs of up to $467 million as a key reason for killing off the privatisation of government employees' superannuation administrator GESB, ending two years of speculation about its future.

State Treasurer Troy Buswell has cited potential costs of up to $467 million as a key reason for killing off the privatisation of government employees' superannuation administrator GESB, ending two years of speculation about its future.