Scheme Details

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 1 March 2017) 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 Statement (dated 1 March 2017) 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:

Simon Brodie (Licensed Independent Trustee)

Michael John Clark

Diane Jane Edwards

Joseph David Fleetwood

Russell Lawrence Mayn

David Macintosh Scott

Raymond Paul Welson

Alan John Windsor

David William 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 Fund also invests directly in an industrial property.  The Trustees regularly monitor and evaluate the performance of the Investment Managers.

The current Investment Managers are:

Global Equities
AMP Capital Investors (NZ) Ltd
ANZ Investments Ltd

New Zealand Equities
Devon Fund Management

Australian Equities
AMP Capital Investors (NZ) Ltd (Schroders)
Devon Fund Management

Alternative Assets
Nikko AM (JPMorgan)

Global Bonds
AMP Capital Investors (NZ) Ltd
ANZ Investments Ltd
Legg Mason (BrandyWine)

NZ Bonds
AMP Capital Investors (NZ) Ltd

Cash
AMP Capital Investors (NZ) Ltd

The property owned by the Fund is managed by Simla Consulting Limited.