Our Fund
The NFMW has different member categories, namely Category C (Main retirement savings category) and Category A (Supplementary retirement vehicle). Category E is for members who previously belonged to the National Pension Fund for Municipal Workers or where transfers to NFMW were effected from a pension fund. These member categories offer competitive benefits and have an excellent long-term investment track record.
Category C
This is the main retirement savings category, members contribute between 7.5% to 9% and the employer 18% towards retirement. Members can choose between various risk categories to best suit their individual needs. The benefits in this category include :
Risk cover
Disability benefit
Repartriation benefit
Funeral benefit
Housing loans
Withdrawal benefit
Category A
This Category, also known as the 2%-fund, is a supplementary retirement savings vehicle for employees within Local Government, both the member and employer contribute 2%. The benefits in this category include :
Risk cover
Disability benefit
Repartriation benefit
Funeral benefit
Housing loans
Withdrawal benefit
Category E
This Category is for members who previously belonged to the National Pension Fund for Municipal Workers or where transfers to NFMW were effected from a pension fund. Category E members need to purchase a pension/annuity with at least two-thirds of their fund credit when they retire.
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