Meat Industry Scheme

The Meat Industry Scheme is a defined contribution scheme. The benefits payable by your scheme are guaranteed by the Government.

The earnings rate declared by the Board for the scheme for the year ended 31 March 2024 was 8.02% on Members' Total Credits as at 1 April 2023, and 4.00% on contributions paid during the year. The investment return (after tax and operating expenses) earned by the scheme for the year ended 31 March 2024 was 12.42% (2023: -2.00%).

Notice of wind up

The Minister of Finance, at the Board’s request, has given a direction that the Scheme be wound up as at 31 March 2025.

The Scheme has been closed to new members since 1991. The total membership of the scheme is declining as members exit and take their entitlements. As at 30 September 2024 the Scheme had 53 contributing members and 140 non-contributing members. The net assets were $24 million. Given the Scheme’s low membership and high operating costs (some of which are fixed costs that are incurred regardless of membership levels) it is uneconomic to continue with it.

All members have been provided a notice of wind up, together with options available to them pre-wind up and upon wind up. If you have any questions please contact the Scheme Administrator, Datacom.

How your money is invested

The scheme's asset allocation strategy is set by the Board and reviewed regularly.  In addition, from time to time, the Board applies its Dynamic Asset Allocation (DAA) tilting programme as outlined in the Statement of Investment Policies, Standards and Procedures (SIPSP).  The pie chart below shows the scheme’s asset allocation strategy as at 31 March 2023 and 31 March 2024.