A Special Message from the NFMW'S Principal Executive Officer

NFMW OFFICE CLOSURE FOR THE FESTIVE PERIOD

The offices of the NFMW will be closed from Monday, 23 December 2024, and will re-open on Monday, 6 January 2025.

During this period:

• Funeral claims: Please email your submissions, including all required supporting documentation to exits@nationalfund.co.za

• Two-pot savings withdrawal applications: These can be submitted online at sanlamonline.co.za/login or via the Sanlam MyPortfolio app. Please note: Members must be registered for online access, and the Fund must have their banking details on record to enable them to proceed with the online savings withdrawal application.

1. Option for members moving between participating employers

We are pleased to inform you of a change introduced by Rule Amendment 4 of the Fund Rules. Members who terminate their service with one participating Local Authority and immediately join another participating Local Authority now have the choice to:

• Retain their benefit in the Fund, or
• Take their benefit in cash.

We strongly encourage members to carefully consider their options and make informed decisions about preserving their retirement savings. Keeping your savings invested in the Fund can help secure your financial future and ensure long-term growth. Remember, the decisions you make today will have a lasting impact on your retirement.

NFMW members have access to free financial advice through the Fund’s appointed financial advisors, Portfolium, who can be contacted on (012) 880 5981.

2. Changes to risk cover options

Members have the option to choose the amount of death and disability cover they have in the Fund. Members now have greater flexibility in managing their risk cover:

• Decreasing risk benefits: You can now decrease your risk benefits at any time during the year. Previously, this was only allowed on 01 January and 01 July.
• Increasing risk benefits: As before, increases to risk benefits are allowed at any time of the year, either at your request (subject to underwriting) or within two months of a significant life event (e.g., marriage or the birth of a child), provided sufficient proof is submitted.

The effective date for any risk cover change – whether an increase or decrease – will be the 1st day of the month following the date of receipt of your request.

These updates are designed to give you more control over your benefits and ensure they align with your personal circumstances.

Should you have any questions or need further assistance, please contact our offices.