February 2019

NFMW-greetings

We have previously communicated on the default regulations that are set to be implemented with effect from 1 March 2019 and are aimed at promoting good fund governance and improving the retirement outcomes of retirement fund members. The regulations prescribe the requirements for default investment portfolios, default preservation and annuity strategies.The fund already complies with these new regulations by providing the required default options which are best suited to the membership profile of the fund.

Information on the latest investment returns, voluntary funeral benefits and burial packages available to members, is contained in this edition of the mailer.

Please also take a few minutes of your time to complete our latest survey, we would really appreciate your feedback.

Enjoy reading this edition of the mailer and remember, we are always here to help if you need any information or assistance with any fund-related matter.

Kind regards

Sean Samons
Principal Executive Officer

NEW DEFAULT REGULATIONS EFFECTIVE 1 MARCH 2019

Default options are automatic choices made on behalf of members who do not exercise an alternative choice. Read the full article on the new default regulations and how the NFMW complies with these requirements by clicking here.

VOLUNTARY FUNERAL COVER AND BURIAL PACKAGES

NFMW-members have the option to make use of any of the voluntary funeral benefits, which include:

• Burial packages structured to your individual needs (Download brochure & Application form)
• Funeral cover for parents, parents-in-law and up to eight extended family members (Download brochure & Application form)
• Funeral cover conversion option which allows members to continue with their funeral cover when they resign, are retrenched or retire (Download application form)

These products are voluntary and, should any of the products be taken up by an NFMW-member, the relevant agreement will be between the member and the service provider and falls outside the rules of the fund. The number of family members you wish to insure and the amount and type of cover/burial package you choose, will determine the monthly premium payable to the external service provider by direct debit order. Please refer to the brochures above for costs and the applicable policy terms and conditions.

LATEST INVESTMENT PERFORMANCE

Absa offers you, as a member of the National Fund for Municipal Workers (NFMW), financial service solutions to make your life easier. Read more.