The Motor Industry Retirement Funds (MIRF) notes the recent media reports relating to the Motor Industry Fund Administrators (MIFA) and matters concerning the MIFA Board.
MIFA provides administration services to MIRF. While the two organisations have an important working relationship, MIFA and MIRF have separate governance structures and are governed by different Boards, each with its own roles, responsibilities and accountabilities.
The matters referred to in the recent media reports concern the MIFA Board and its internal governance arrangements. These matters therefore fall within the governance and accountability structures of MIFA and should appropriately be addressed by MIFA.
MIRF is consequently not in a position to comment on matters relating to MIFA’s internal governance or Board processes and will not be drawn on the detail of those processes while they remain ongoing. MIRF will keep members and stakeholders updated as appropriate.
MIRF remains focused on its responsibility to act in the best interests of its members and to ensure the effective governance and oversight of the Funds.
MIRF statement regarding recent media reports concerning MIFA
