The Waterfront Industry Superannuation Fund now has two sections:
- the original fund (Wisf) which will continue with the same rules and the same benefits, and
- a KiwiSaver scheme (Wiks) operating pursuant to the KiwiSaver Act 2006.
The two sections are linked so that:
- contributions to Wiks count towards the minimum contributions required for membership of Wisf including eligibility for the death benefit
- the two sections will be invested in the same investment pool and offer the same investment choices
The Trustees consider that incorporating KiwiSaver into the Fund in this way gives current and future members a ‘best of both worlds’ opportunity. You will be able to have:
- part of your retirement savings readily accessible when you finish your employment in the waterfront industry
- part of your retirement savings enhanced by various government incentives. These include the $1,000 kick start contribution, tax free employer contributions if they match your contributions up to 2% of your before tax salary or wages, and an annual tax credit of up to the equivalent of $20 per week . The trade-off is that this part of your total savings – your KiwiSaver Account will be locked-in until you are entitled to NZ Superannuation or for 5 years whichever is later.
Membership of Wiks is open to anyone working for a participating employer in the Waterfront Industry including casuals. It is also open to the Fund's deferred beneficiaries.
Interested in joining?
Please read the Fund’s Investment Statement, complete the application form at the back of the Investment Statement and either give it to your employer or send it to the Fund office.
Copies of the Fund’s Investment Statement can be downloaded or obtained from the Fund office free of charge.