April 2018
NFMW-greetings
The trustee elections to fill four vacancies on the Board of Trustees have been successfully concluded during April. It was conducted through postal ballot elections in Limpopo, Gauteng, Mpumalanga and the combined Western, Northern and Eastern Cape provinces, to ensure a smooth, democratic and fair election process, allowing all members in these provinces an equal opportunity to participate.
Thank you to all the candidates who made themselves available for election and to all the members for showing an interest in the management of their fund by taking the time to cast their vote.
Congratulations to the following elected trustees;
Mr. Charles Antonio - Mpumalanga
Mr. Louwrens Geldenhuys - Gauteng
Mr. Nhlavabvu Nkuna - Limpopo
Mr. Robert Solomons - Western, Eastern and Northern Cape (combined)
The elected trustees will serve a term of five years which will commence on the 1st of May 2018.
Please feel free to contact us if you require assistance with fund-related matters. Enjoy the long weekend ahead and please be safe.
Sean Samons
Principal Executive Officer
Indemnity statement
The National Fund for Municipal Workers does not accept liability for any loss, damage or expense that may be incurred as a direct result or consequence of reliance upon the information in this document. If there is any conflict between the information in this document and the actual Rules of the Fund, the actual Rules of the Fund will prevail.
Approaching retirement and need to decide where and how to invest your retirement savings? The NFMW offers post-retirement products!
There are many factors to consider as you are nearing retirement and are faced with the very important decision on which product(s) to invest your hard-earned retirement savings in. It can be quite overwhelming and daunting as making the wrong decision can have dire consequences.
The Board of Trustees of the National Fund for Municipal Workers established voluntary post-retirement default options, the NFMW Golden Income With-Profits Life Annuity underwritten by MMI and the NFMW Living Annuity, for members who wants to manage their own pension benefits after retirement. In short, it means that members do not have to make use of an external product provider but may instead select an ‘in-fund’ default living or life annuity.
The major advantage for members is a cost benefit, as the management and investment fees on the fund's default options are significantly lower when compared to the products available from external providers (life insurance companies or investment platforms). There will be a low charge for benefit administration services and the investment management fees will be similar to the existing pre-retirement portfolios.
Members can choose a guaranteed income stream after their working life, in the form of a pension payable for life i.e. a guaranteed or life annuity. Alternatively, their income level post retirement can be self-determined by way of a living annuity. Read more
The risk cover option you choose determines the benefit payable should you die or become disabled and the risk cover cost deducted from the employer's contributions every month. Watch the latest video on understanding the NFMW Risk cover options.
| Portfolio | March 2018 | Cumulative YTD |
|---|---|---|
| Capital Protector | 0.74% | 6.45% |
| Stable Growth | (0.36%) | 7.63% |
| Capital Growth | (1.84%) | 4.79% |
| Aggressive Growth | (2.36%) | 3.88% |
| Shari’ah | (2.00%) | 4.12% |
Food for thought Do not be swayed by emotions, especially when investment markets are not performing well or there is a lot of uncertainty around the investment markets. You are saving for a long-term goal, do not make decisions based on short-term volatility! Do not try to time the market, invest your contributions consistently/regularly over all investment market periods. Do not invest conservatively over a long term because there are chances that you will not meet your long-term investment goals. Invest in the appropriate investment portfolios.
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