News

Published on 29 August, 2018

The primary objective of the NFMW is to provide benefits for members on retirement or withdrawal and for their dependants or nominees in the event of the death of such a member. There are different factors that can have an impact on the benefits payable to a member on resignation and retirement. It is therefore important that members are made aware of these factors in order to assist them to make informed decisions about their retirement savings to ensure the best possible outcome. Please take the time to read this edition of the news update and please contact us if you require any further information or need our assistance.

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Published on 31 July, 2018

Positive returns declared on all NFMW investment portfolios. Investment returns declared by the fund have a direct impact on a members' retirement savings. This means that good investment returns will have a positive effect on their fund credit and negative returns will have the opposite effect.

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Published on 28 June, 2018

A reduction in risk cover cost & improved funeral benefits effective 1 July 2018!

The fund understands the impact that high cost can have on a member's retirement savings and therefore always endeavours to keep it to a minimum.

After performing the annual review of the death, disability and funeral benefits, the fund was able to increase the funeral cover benefit and at the same time reduce the risk cover cost!

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Published on 12 June, 2018

National Treasury has already warned in 2012 that it may need to regulate the cost of retirement products, if the financial sector and Government cannot come to an agreement on the excessive high cost of pension funds and retirement products (such as living annuities and preservation funds). Pension products are expensive and, in many cases, confusing. This is what led to the new regulations, which place an obligation on the trustees of pension and retirement funds to offer default options to members.

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Published on 7 June, 2018

There has been much speculation around the rationalisation of retirement funds and the possible commencement date of the much-anticipated freedom of association (window period).

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Published on 31 May, 2018

The first three months of 2018 proved to be a challenging period in terms of the various NFMW portfolio returns with the recorded returns, undoubtedly, not what most investors would have expected after the recent (positive) sentiment change when Cyril Ramaphosa was elected as the ANC's and South Africa's president.

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Published on 26 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.

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Published on 28 March, 2018

This edition includes an update on the trustee elections, the latest investment portfolio performance and the funeral cover requirements applicable to members who are joined in marriage with more than one person.

The latest benefit statements were posted to members at the beginning of March and members should please ensure that they review the information contained in the document and inform the fund if any of the information is incorrect or needs to be updated.

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Published on 8 March, 2018

As you are aware, the National Fund for Municipal Workers (NFMW) is in the process of electing four members of the Board of Trustees for the next term of office commencing 1 May 2018.

The first phase of the election process has been completed and the following valid nominations were received by the fund:

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