What is MRS?
The Maritime Retirement Scheme (known as MRS or the Scheme) was established on 1 April 2016 as an amalgamation of the Waterfront Industry Superannuation Fund (WISF) and the Seafarers Retirement Fund (SRF). Its objective is to provide retirement and other benefits for workers in the waterfront and seafarer industries. It is an employer subsidised, defined contribution scheme registered under the Financial Markets Conduct Act 2013.
All Waterside Workers are eligible to join the Scheme, and all other persons working within the Waterfront Industry are eligible to join MRS subject to any terms and conditions the Trustees may determine from time to time.
All Seafarers employed by an employer who participates in the Scheme, and all Seafarers who are either employees of the Maritime Union of New Zealand (MUNZ) or financial members of MUNZ are required to join the Scheme.
The Product Disclosure Statement (PDS) Maritime Retirement Scheme – Product Disclosure Statement (dated 7 November 2022) for the Maritime Retirement Scheme has been lodged with the Registrar of Financial Service Providers and can be obtained from the Companies Office Disclose website or from the Administration Manager free of charge.
In the simplest terms, the MRS collects contributions from its members and their employers, invests those contributions to earn a return on the accumulated savings of members and then pays benefits to members when they finish working as a Waterside Worker or finish working as a Seafarer and leave MUNZ.
What is MKS?
The Maritime KiwiSaver Scheme (known as MKS) was established on 1 April 2016 as an amalgamation of the Waterfront Industry KiwiSaver Scheme (WIKS) and the SRF KiwiSaver Scheme (SRFKS).
All persons who are eligible to join MRS and who are also eligible to join a KiwiSaver scheme are eligible to join MKS. Immediate family members of any member of MKS are also eligible to join MKS.
The Product Disclosure Statement (PDS) Maritime KiwiSaver Scheme – Product Disclosure (dated 7 November 2022) for the Maritime KiwiSaverScheme has been lodged with the Registrar of Financial Service Providers and can be obtained from the Companies Office Disclose website or from the Administration Manager free of charge.
Who are the Trustees?
The Trustees of the Fund are:
Philippa Drury (Licensed Independent Trustee)
Ray Fife
Carl Findlay
Craig Harrison
Russell Mayn
Walter Rushbrook
Ray Welson
Brodie Stevens
Andrew Clark
David Young (Independent Chairman)
Who are the Service Providers?
The Service Providers of the Fund are:
Administrator – Melville Jessup Weaver
Auditor – Deloitte
Tax Advisor – Deloitte
Actuary – Melville Jessup Weaver
Legal Advisor – DLA Piper
Investment Consultant – Melville Jessup Weaver
Who are the Investment Managers?
The Fund invests with Investment Managers in a range of asset classes including Global and Australasian shares, Global and New Zealand bonds and Cash. The Trustees regularly monitor and evaluate the performance of the Investment Managers.
The current Investment Managers are:
Global Equities
Nikko Asset Management
Mercer Investments
Australasian Equities
Fisher Funds Management Ltd
Salt Funds Management
Global Bonds
Harbour Asset Management Ltd
Nikko Asset Management
NZ Bonds
Nikko Asset Management
Cash
Nikko Asset Management