CELEBRATING 50 YEARS! A PROUD, PIONEERING HISTORY

The superannuation system that Australians take for granted today is largely thanks to the foresight and commitment of the maritime unions and employers who established a pension for maritime workers over 50 years ago. Before superannuation, maritime workers would retire with nothing more than their final pay cheque. After years at sea or on the wharves, the end of their working life signalled a new phase of uncertainty for these veteran workers, sailing into their golden years not knowing how they would support themselves and their families. And that’s where Maritime Super comes in …

  • 1967

    On 6 October 1967, the Stevedoring Employees Retirement Fund (SERF) was established.

    Stevedoring members received a pension partly funded by employers and workers that saw employers contribute 1½ times the employee’s contribution rate, plus 100% for years of service back to 1942.

    SERF was Australia’s first employer-sponsored industry fund – 25 years before compulsory superannuation came into being.

  • 1973

    On 3 May 1973, the Seafarers Retirement Fund (SRF) was established.

    Seafaring members received a pension funded by employers and workers under a 2 for 1 arrangement, with an initial fund service benefit of $6.00 a week.

  • 1974

    In its first superannuation survey, the ABS reported that:

    • 32% of the workforce had super
    • 24% of people working in the private sector had super
    • 58% of people working in the public sector had super
  • 1986

    The Government and the ACTU endorsed a universal 3% 
employer superannuation contribution in the Prices and Incomes Accord Mk II.

    Maritime industry members received an additional 3% super.

  • 1990

    64% of employed Australians had super.
    Super assets estimated to be $123 billion.

  • 1992

    SG legislation is passed and superannuation becomes compulsory for all Australians – 25 years after the establishment of our industry Fund!

  • 2000

    By 2000, both SERF and SRF were going from strength to strength:

    • SERF had 10,500 members and $1 billion in assets
    • SRF had 5,000 members and $550 million in assets
  • 2005

    Industry Super Australia (ISA) was established to look after the collective interests of industry fund members – with a common goal of providing the best possible retirement outcome for members.

  • 2009

    On 1 March 2009, Maritime Super was established.

    The merger of SERF and SRF resulted in the formation of the largest industry super fund for maritime workers.

  • 2016

    100% of employed Australians have super.

    Super assets estimated to be $2.2 trillion – making Australia the third-largest holder of pension fund assets in the world.

  • 2017

    6 October 2017 – Maritime Super celebrates its 50th Anniversary.

    30,000 members, $5 billion in assets under management and growing!

EXPLORING INVESTMENTS

Find out how investment markets and how your super has performed over the

last year and explore your investment options.

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MARKET
REVIEW

A strong year for investment markets

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INVESTMENT PERFORMANCE

See how your super has performed over the last year.

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INVESTMENT
OPTIONS

You can decide how you want your super invested.

Explore your options.

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INVESTMENT MANAGERS

Your super is expertly invested by leading investment managers.

OUR MESSAGE TO YOU

Embracing digital

Welcome to the 2016/17 Maritime Super Annual Report.

This financial year, we’ve been busy once again developing new online tools in addition to all the resources and services already available to members, to help them make the most of their super. In July, we launched two revamped websites – the public site and the secure Member Online site, where you can access and/or change your personal information. These sites are designed to be more intuitive and personalised. We’ve also started working on an App – watch this space!

Our digital strategy is in full swing and supporting members with personalised video and interactive statements, calculators to explore future benefits, suite of short sharp videos, eNewsletters and social media channels. Our digital solutions are all about helping members make the most of their super, and providing the appropriate support and guidance along the way.

Focus on investment growth

Investments play a key role in the savings journey, we know that, and that’s why our objective is to deliver solid long-term investment performance with a bias to capital preservation. Investment markets were strong throughout the financial year, hitting double-digit returns for most asset classes. Australia’s economy expanded reasonably over the year. Global markets were steady as the US economy remained resilient despite reduced intervention from the Federal Reserve and in Europe, economic recovery continued to be supported by the European Central Bank’s Quantitative Easing program.

Maritime Super’s investment options delivered positive returns for members for the 2016/17 financial year, and saw the Growth option return 12.34% and the Balanced option 10.44%.

Celebrating 50 Years

2017 marks a very special milestone for the Fund – it’s our 50th anniversary! As early as 1954, unions sought to establish a pension scheme for members, but it wasn’t until 1967 that maritime unions and industry employers collaboratively. Read more …

“Over the years, we’ve seen generations of members retire with financial security and dignity thanks to the foresight of maritime unions and employers 50 years ago.”

WORKING FOR YOU AND YOUR INDUSTRY

30000

MEMBERS

364

PARTICIPATING EMPLOYERS

$5bn

IN FUNDS UNDER MANAGEMENT

55%

MEMBERS FOR 10+ YEARS

FINANCIALS

FINANCIAL STATEMENTS

Learn about the financial position
of your Fund and view Maritime Super’s
audited financial accounts.

RESERVES

Maritime Super maintains an insurance reserve,
operational risk reserve and a fund
operating reserve.

LEARN MORE

Learn more about the benefits of being with Maritime Super and how the fund operates.

Membership benefits

Maritime Super is the largest industry fund dedicated to the maritime industry. With 30,000 members and $5 billion in assets, we’re committed to building lifelong relationships with members throughout their working lives and into retirement. Read more…

Connecting with us

We’re here to help you along your super journey. There are a number of ways you can connect with us to stay up to date with the latest developments in the Fund, to learn more about your super and your benefits, or to simply ask us a question! Read more…

Managing Your Fund

The Trustee is responsible for the overall operation of the Fund and ensuring that it operates within the rules of the Trust Deed and relevant Government legislation. The Trustee is committed to making decisions that are in the best interests of members. Read more…

Unclaimed Super Monies

Maritime Super is required to pay unclaimed super benefits to the ATO. We will classify your benefits as unclaimed monies if:

  • you have reached age 65
  • we have not received a contribution Read more…
Super Surcharge

The surcharge was an additional income-tested tax which applied between 20 August 1996 and 30 June 2005. In some instances, the ATO may request payment of an outstanding surcharge amount. Read more…

Enquiries & Complaints

If you have an enquiry about your super or pension, please call Member Services. The Member Services team at Maritime Financial Services Pty Limited are available to provide members with general advice at any time between 8.30am and 5.30pm (AEST) Monday to Friday on 1800 757 607 Read more…

Other Investment Info

To help members assess risk, standard risk measures have been introduced for the investment options. The Standard Risk Measure (SRM) is a simplified risk measurement tool that helps members compare the risk of negative returns for investment options, both within the Fund and between funds. Read more…

Other Fund Info

Maritime Super can provide you with any information you reasonably require to understand the financial condition or management of the Fund.

You can access any of the following documents on our website at www.maritimesuper.com.au or request a copy by calling Member Services on 1800 757 607 Read more…

Keeping Your Details Up To Date

If you’ve changed address or are about to, don’t forget to let us know. It’s as easy as making a call to Member Services on 1800 757 607. By doing so, you’ll be sure to receive your Annual Statement and other important information from the Fund. Read more…