News

Published on 29 September, 2022

In the August edition of our news update we looked at the proposed draft Revenue Laws Amendment Bill that was published by National Treasury and the South African Revenue Service on early access to retirement savings and compulsory preservation.

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Published on 16 August, 2022

On 29 July 2022, National Treasury and the South African Revenue Service (SARS) published for public comment the 2022 draft Revenue Laws Amendment Bill (Bill). This Bill contains proposed amendments dealing with the “two-pot” retirement system which is aimed at enabling South Africans to save for non-retirement purposes i.e., emergencies through their retirement funds, whilst preserving more savings for their retirement.

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Published on 22 July, 2022

Much has changed in the first six months of the year with the good returns from markets in 2021 all-but-forgotten as the war in Ukraine rages on and central banks across the globe raise interest rates in an attempt to contain high inflation.

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Published on 8 July, 2022

The Fund embarked on a process to review the current death, disability and funeral benefits and benefit structures offered to members of the NFMW, as part of its efforts to enhance the member value proposition, continuously considering ways to serve its members better, reduce costs and improve benefits.

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Published on 30 June, 2022

We have been communicating on the Rationalisation of Retirement Funds and the window period that was set to commence on the 1st of July 2022, which would allow employees within Local Government the opportunity to move to a fund of their choice.

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Published on 25 May, 2022

As previously communicated, all Local Government funds, including the NFMW, were required to undergo an accreditation exercise to ensure that they comply with the criteria as set out by the South African Local Government Bargaining Council (SALGBC) as part of the Rationalisation of Local Government Retirement Funds-exercise.

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Published on 17 May, 2022

Recently we have seen some exciting new developments unfolding within the pension and retirement fund industry, as well as within the NFMW in terms of our strategic positioning, improved member service and other benefit offerings. Articles on the Retirement reform and the default regulations were published in the media and in the communication issued by the Fund.

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Published on 12 April, 2022

For many years, some industry surveys have indicated that only 6% of members of retirement funds in South Africa will retire financially secure. In the same vein, the retirement funds industry and relevant stakeholders did not do much, if anything, to address this challenge that has been highlighted from conference to conference and from year to year.

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Published on 8 April, 2022

At the NFMW, our main purpose is to secure our members’ financial futures, but we also understand the importance of making sure that our members’ families are taken care of in the case of the members’ death and that members have the peace of mind that they will not be left destitute, should they become disabled.

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