Number 79  -  17 February 2006

Trustees to survey members

The Trustees have decided to survey members of the scheme to seek their views about the methods the scheme uses to communicate to them in the future. This survey, the first ever carried out since the scheme began in 1987, will be carried out electronically and members will receive an e-mail at their Fire Service e-mail address on or about 27 February 2006. The e-mail will contain a survey that members can complete on-line and return to the Trustees electronically. The survey will close on 20 March and the results will be available to Trustees on 31 March 2006.

Those members who do not have a Fire Service e-mail address can still partake in the survey however they will need to send their e-mail address to the Trustees at either bcdent@ihug.co.nz or info@firesuper.co.nz before Thursday 23 February 2006.

Members are advised that the survey is both voluntary and confidential and that the views expressed in the survey will not be made available in any form that will identify individual responses.

Trustees encourage members to take the time to complete and return the survey and in that way have a say about how the scheme communicates with its members in the future.

Interim interest rates

Members are advised that the interim interest rates for the nine months to 31 December 2005 have been set at:

Main Portfolio + 9.12 %

Cash Portfolio + 3.45 %

to reflect the after tax and expenses performance of the Portfolios.

Members are reminded the interim interest rate is the interest rate that is paid to members who are closing their membership of the scheme during the financial year.

Members are further reminded the Trustees review both interim interest rates on a monthly basis and that the Main Portfolio interim interest rate is included in member account balances provided at the scheme’s web browser. Go to www.firesuper.co.nz and click on the link ‘Access Account Details’ to review your balances.

Members of the Cash Portfolio should ring the Administrator on 0800 MY SUPER – 0800 69 78737 to receive advice of their balances in their Cash Portfolio.

Independent Trustee

Tim McGuinness, of Wellington, was appointed as the Independent Trustee of the scheme for a period of three years on 01 June 2005.

Tim is an Actuary and has been employed in the financial services industry for many years. He is currently a Commissioner for the Earthquake Commission (EQC), is a member of the Board of the Government Superannuation Fund (GSF) and is a Trustee of the Police Superannuation Scheme.

Tim replaces the late Hutton Peacock who retired as the Independent Trustee in December 2005.

Amendment to Trust Deed

In accordance with Clause 6 (a) of the Trust Deed members are advised that the Trust Deed of the scheme was amended on 01 July 2005. The amendment to Clauses 5 (i), 5 (ii) and 16 were required to maintain compliance with the State Sector Act 1988.

Clauses 5 (i) and 5 (ii) relate to the requirements of transfers either to or from another Scheme. Clause 16 now requires any future amendment to the Trust Deed to maintain compliance with the State Sector Act 1988.

A copy of the current Trust Deed is available by going to www.firesuper.co.nz and clicking on the link ‘Access Forms and Documents’.

Logo to be updated

The Trustees have been working over the last nine months to update the logo and livery used by the scheme.

The present logo was developed in 1991 and is being updated rather than the more expensive option of being redesigned.

From April 2006 the new logo and livery will appear on stationery – as old stocks are used up – and at the web site and on all external communications.

The Trustees are sure this update will maintain the professional look of all the communications the scheme provides.

Lost souls

If any member knows the present whereabouts of Simon Mortimer could you please ask him to contact the scheme at any of the addresses set out on the front page of this Supernews. Thank you !

Investment matters

Members are advised that all investments in the ANZAM Cash Fund were withdrawn in September 2005 and placed in the ING Cash Fund.

Trustees took this decision because they had become the largest investor in the ANZAM Cash Fund and this was not desirable from a liquidity point of view. The ING Cash Fund is slightly more diversified with regard to the investments it makes than the ANZAM Cash Fund.

In September 2005 the Trustees resolved to increase the tactical weighting of Cash within the Main Portfolio to seven per cent of total assets, which is the maximum permitted by current policy, rather than the five per cent established as a strategic asset allocation position in 2004.

This position will be maintained until there is clear evidence that the cash rates available in New Zealand are reducing.

Changes in contributions

Members are reminded that should they wish to alter their contributions to the scheme for any reason – such as reducing, starting or amending voluntary, or recommencing contributions – they must seek the approval of the Trustees in writing in advance.

The Payroll Manager at the Fire Service is not able to alter contribution rates unless he has the written approval of the Trustees.

Members should also be aware that it is important to give the scheme sufficient lead-in time to process any contribution changes. You should also be aware that the close off for changes to the Fire Service payroll system is a week before pay day.

Members are thanked in advance for their help with this matter. Thank you !

Get your Supernews quicker

If you wish to have your Supernews delivered to you individually by e-mail please supply your e-mail address to the Secretary to the Trustees at any of the addresses set out on the front page of this Supernews.

Given the pace of developing technology and the need to be able to keep in touch with members on a personal level as quickly as possible the Trustees wish to offer this service to more members.

A hard copy of Supernews will continue to be posted to all members and Stations irrespective of whether you request an electronic version of Supernews or not.

BARRY DENT