Date/Time Flaw in pg_dump ?

Using May 2nd snapshot...

If I do a pg_dump <database> | psql <newdatabase>

Any datetime fields are different. I think it's a timezone problem. I
think pg_dump is dumping in local time, and psql is interpreting it as
GMT.

The dump includes the timezone as part of the dump, so I'm guessing that
the problem is on the part of psql not noticing that. I'm using the
Australian "EST" zone if that's useful.

Is there an immediate work-around?