Meat Industry Employees’ Superannuation Fund
Types of MIESF super accounts
MIESF offers superannuation solutions to three main groups – members, employers and pensioners.
A corporate fund is typically arranged by an employer for their employees to use, a personal fund can be a more flexible option and pension payments convert your super into regular income payments. There are a lot of benefits coming from being a member of MIESF, including:
- Competitive investment performance
- All profits returned to, or for the benefit of members
- Flexible and cost-effective
- Income streams for retired members
- Over-the-phone financial advice
- Total and Permanent Disability (TPD) Cover
- Death Cover
Eligibility to apply for a MIESF superannuation account
To apply for any of the MIESF super funds, you must be able to satisfy the following criteria:
- You must be an Australian resident
- You must be over 18 years of age
- You must be working in the meat industry
- Your employer must be in the meat industry and have agreed in writing to participate in the fund
- You must be earning at least $450 before tax per month from an employer
If you are under the age of 18, but earning more than $450 before tax per month, you must be working more than 30 hours per week to qualify for super.
How to apply for a MIESF super fund
If you’ve satisfied the above criteria, you are eligible to apply for a super fund. The first step in applying for a MIESF super fund is choosing the type of membership that best suits you. Ask yourself the following questions:
- “Am I still working, and not yet ready to retire?” – Join as a super member
- “Am I about to retire or have already retired?” – Join as a pension member
- “Am I contributing for employees?” – Join as an employer
Once you’ve made a decision, you can complete the Membership Application Form and send it to the Fund Office at 2nd floor, 62 Lygon Street, Carlton South Vic 3053 Australia. If you have any questions, you can call 1800 252 099.
Currently, MIESF doesn’t have an online portal; however, it sends out regular statements and is happy to take phone calls and emails for any queries you may have.
Most of the time, the money in your super fund account is invested by your super fund, and MIESF is no different. It offers a variety of investment options to ensure the security of your retirement money, and to provide a reasonable rate of return over time.
It is important to take into account investment timeframes, and your personal tolerance for market fluctuations when choosing an investment option. The returns from your investment directly impact how quickly or slowly your super grows.
The table above shows the total fee cost to have a MIESF account per year. Compare these fees to the average super fund fees on our database
MIESF offers a consolidation service for members who have super in other funds. It’s important to check with your old funds for information regarding costs such as exit fees and insurance cover. If you have any questions or concerns, give MIESF a call on 1800 252 099.
Be sure to check these nine things on your superannuation statement:
- Personal details are up-to-date
- Nominated beneficiaries are up-to-date
- Tax File Number (TFN) is recorded
- Super contributions from employer and/or your voluntary contributions are correct
- Investment asset class choicesare appropriate for your life stage
- Amount paid in fees
- Insurance still adequate
- Super is consolidated, after checking whether there is insurance or any other benefits attached to the account you may lose and you’re comfortable to do so
- The big picture – are you happy with your super fund overall?
MIESF has been established for over 30 years and aims to represent employees in the meat industry. As an industry super fund, MIESF is a not-for-profit organisation that exists for the benefit of members. Its goal is to maximise retirement benefits for members who share a passion for meat and the meat industry.