About IRIS
IRIS was established in 1990 by a group of Unions keen to encourage working people in New Zealand to start saving for their retirement, and where possible with contributions from their employers.
IRIS is professionally managed using industry experts. IRIS does not pay agents’ commissions or trustee fees. This keeps costs as low as possible thereby maximising the benefits to members. IRIS is member-focussed.
IRIS has 5,000 members, 130 participating employers and the trustee manages $25million in assets - and growing.
IRIS’ structure allows for equal numbers of union and employer directors. Participating unions nominate the directors whose role it is to represent members’ interests in decisions about the services IRIS provides.
IRIS Super has low fees and is structured so you can keep saving with IRIS even when you change jobs. With a minimum contribution of just $5 a week, it offers an affordable step on the long-term savings ladder. IRIS also offers low cost life insurance.
IRIS Super is registered with the Government Actuary.
As at 30 June 2007 IRIS shareholders are:
- National Distribution Union Inc
- Engineering, Printing and Manufacturing Union Inc
- Nurses Organisation
- Services and Food Workers’ Union Nga Ringa Tota
As at 30 June 2007 IRIS directors are:
Administrators: AON NZ
Investment Manager: TOWER ASSET MANAGEMENT
Insurance Underwriter: SOVEREIGN
Actuarial and Investment Advisors: AON CONSULTING NZ
Auditors: HORWATH,PORTER,WIGGLESWORTH
Solicitors: DLA PHILLIPS FOX