SRF historic crediting rates

For Accumulation accounts, the Seafarers Retirement Fund (SRF) offered five different investment options and each option had an investment earning rate which was updated daily. The table below records earning rates for each month up to the last day that the SRF declared a rate.

The earning rates for each investment option are net of all fees and taxes.

The earning rates for SRF pensioners will differ to other members due to the different tax provisions applying to the earnings of pension products.

Regular Members Monthly Crediting Rates: From 1 July 2008 - 28 February 2009

Month	Cash	Cash Enhanced*	Stable	Balanced	Growth
31 July 08		0.40	-0.25	-1.48	-2.33
31 Aug 08		0.48	1.06	1.38	1.35
30 Sep 08		-0.72	-1.89	-4.11	-5.25
31 Oct 08		0.70	-2.05	-7.25	-9.55
30 Nov 08		0.34	-0.41	-2.48	-4.00
31 Dec 08		-0.24	0.15	-0.88	-1.16
31 Jan 09	0.33	0.34	-0.50	-3.89	-4.51
28 Feb 09	0.28	-0.12	-1.74	-3.11	-4.16
31 Mar 09
30 Apr 09
31 May 09
30 Jun 09
Year to Date	0.61	1.19	-5.53	-20.04	-26.34

The year to date reflects the cumulative effect of the monthly earning rates.

Pension Members Monthly Crediting Rates: From 1 July 2008 - 28 February 2009

Month	Cash	Cash Enhanced*	Stable	Balanced	Growth
31 July 08		0.47	-0.30	-1.67	-2.59
31 Aug 08		0.57	1.25	1.55	1.50
30 Sep 08		-0.84	-2.23	-4.62	-5.83
31 Oct 08		0.81	-2.49	-8.28	-10.78
30 Nov 08		0.41	-0.48	-2.78	-4.44
31 Dec 08		-0.28	0.18	-0.98	-1.29
31 Jan 09	0.39	0.40	-0.58	-4.37	-5.01
28 Feb 09	0.33	-0.14	-2.02	-3.60	-4.76
31 Mar 09
30 Apr 09
31 May 09
30 Jun 09
Year to Date	0.72	1.38	-6.53	-22.48	-29.12

The year to date reflects the cumulative effect of the monthly earning rates.

Regular Members Monthly Crediting Rates: From 1 July 2007 - 30 June 2008

Month	Cash Enhanced*	Stable	Balanced	Growth
31 July 07	0.40	-0.15	-0.55	-0.78
31 Aug 07	0.28	0.61	0.33	0.28
30 Sep 07	0.26	0.70	2.00	2.51
31 Oct 07	0.61	0.90	1.74	2.14
30 Nov 07	0.21	-0.22	-1.39	-1.90
31 Dec 07	0.29	-0.14	-0.56	-0.76
31 Jan 08	0.37	-0.01	-3.62	-5.24
29 Feb 08	0.22	-0.38	-0.38	-0.33
31 Mar 08	0.10	0.48	-1.40	-2.04
30 Apr 08	0.59	1.01	1.75	2.29
31 May 08	0.50	0.34	0.24	0.35
30 Jun 08	0.42	-1.19	-3.41	-4.60
Year to Date	4.35	1.95	-5.31	-8.13

Pension Members Monthly Crediting Rates: From 1 July 2007 - 30 June 2008

Month	Cash Enhanced*	Stable	Balanced	Growth
31 July 07	0.47	-0.17	-0.62	-0.87
31 Aug 07	0.33	0.72	0.37	0.31
30 Sep 07	0.30	0.83	2.25	2.78
31 Oct 07	0.68	1.02	1.93	2.36
30 Nov 07	0.25	-0.26	-1.56	-2.11
31 Dec 07	0.34	-0.16	-0.63	-0.85
31 Jan 08	0.44	-0.01	-4.07	-5.82
29 Feb 08	0.25	-0.50	-0.77	-0.81
31 Mar 08	0.12	0.56	-1.58	-2.27
30 Apr 08	0.70	1.19	1.97	2.54
31 May 08	0.59	0.40	0.27	0.39
30 Jun 08	0.49	-1.40	-3.83	-5.11
Year to Date	5.10	2.20	-6.32	-9.46

Regular Members Monthly Crediting Rates: From 1 July 2006 - 30 June 2007

Month	Cash Enhanced*	Stable	Balanced	Growth
31 July 06	0.33	0.44	0.40	0.19
31 Aug 06	0.42	1.07	1.66	1.88
30 Sep 06	0.36	0.80	1.36	1.46
31 Oct 06	0.43	0.60	2.06	2.71
30 Nov 06	0.38	0.94	1.51	1.76
31 Dec 06	0.38	0.34	1.70	2.23
31 Jan 07	0.47	0.46	1.16	1.50
28 Feb 07	0.35	1.01	1.47	1.61
31 Mar 07	0.36	-0.10	0.32	0.50
30 Apr 07	0.42	0.62	1.47	1.85
31 May 07	0.42	0.36	1.35	1.79
30 Jun 07	0.35	-0.29	0.13	0.36
Year to Date	4.77	6.42	15.59	19.35

Pension Members Monthly Crediting Rates: From 1 July 2006 - 30 June 2007

Month	Cash Enhanced*	Stable	Balanced	Growth
31 July 06	0.39	0.51	0.45	0.21
31 Aug 06	0.50	1.26	1.86	2.09
30 Sep 06	0.42	0.94	1.49	1.59
31 Oct 06	0.50	0.71	2.31	3.01
30 Nov 06	0.44	1.10	1.70	1.95
31 Dec 06	0.45	0.40	1.91	2.48
31 Jan 07	0.55	0.55	1.30	1.67
28 Feb 07	0.41	1.19	1.65	1.79
31 Mar 07	0.42	-0.11	0.36	0.56
30 Apr 07	0.50	0.73	1.65	2.05
31 May 07	0.49	0.42	1.52	1.99
30 Jun 07	0.42	-0.34	0.15	0.40
Year to Date	5.63	7.59	17.61	21.65

Regular Members Monthly Crediting Rates: From 1 July 2005 - 30 June 2006

Month	Cash Enhanced*	Stable	Balanced	Growth
31 July 05	0.39	0.49	1.53	1.93
31 Aug 05	0.36	0.79	1.32	1.43
30 Sep 05	0.37	0.29	2.35	3.11
31 Oct 05	0.39	-0.36	-1.57	-2.01
30 Nov 05	0.38	0.99	2.51	3.12
31 Dec 05	0.38	1.13	2.62	3.08
31 Jan 06	0.37	0.50	1.90	2.41
28 Feb 06	0.36	0.55	0.69	0.75
31 Mar 06	0.37	0.40	2.10	2.82
30 Apr 06	0.36	0.01	0.62	0.89
31 May 06	0.34	-0.35	-2.30	-3.03
30 Jun 06	0.34	0.21	0.40	0.60
Year to Date	4.49	4.73	12.71	15.94

Pension Members Monthly Crediting Rates: From 1 July 2005 - 30 June 2006

Month	Cash Enhanced*	Stable	Balanced	Growth
31 July 05	0.46	0.58	1.72	2.14
31 Aug 05	0.42	0.93	1.48	1.59
30 Sep 05	0.44	0.34	2.64	3.45
31 Oct 05	0.46	-0.42	-1.76	-2.23
30 Nov 05	0.45	1.16	2.82	3.47
31 Dec 05	0.44	1.33	2.94	3.42
31 Jan 06	0.43	0.59	2.13	2.68
28 Feb 06	0.42	0.65	0.77	0.84
31 Mar 06	0.43	0.47	2.36	3.13
30 Apr 06	0.42	0.02	0.70	0.99
31 May 06	0.40	-0.42	-2.59	-3.37
30 Jun 06	0.40	0.25	0.45	0.66
Year to Date	5.30	5.59	14.36	17.81

Member Investment Choice (MIC) Crediting Rates:  1 July 2004 - 30 June 2005

Regular Members

	Cash Enhanced*	Stable	Balanced	Growth
Annual	4.51	7.39	11.45	12.89

Pension Members

	Cash Enhanced*	Stable	Balanced	Growth
Annual	5.32%	8.74%	12.94%	14.40%

MIC Crediting Rates: 1 July 2003 - 30 June 2004

	Cash Enhanced*	Stable	Balanced	Growth
Annual	4.40%	5.06%	11.16%	14.19%

MIC Crediting Rates: 1 July 2002 - 30 June 2003

	Cash Enhanced*	Stable	Balanced	Growth
Annual	1.72% **	6.59%	-0.19%	-2.47%

* Known as the Cash option in the Seafarers Retirement before 1 January 2009. This option always followed a 'cash enhanced' style. When the SRF cash option was introduced on January 2009, the old Cash option name was changed to a Cash Enhanced to reflect it's true investment style.

** The Cash option was introduced on 1 January 2003. 1.72% represents the cumulative return over the six months to 30 June 2003.

Annual Crediting Rates pre MIC (pre 1 July 2002)

Year	Crediting Rate	Consumer Price Index (CPI)
1997	15.10%	0.30%
1998	11.00%	0.70%
1999	11.00%	1.10%
2000	15.50%	3.20%
2001	7.20%	6.02%
2002	-4.50%	2.84%