The National Fund for Municipal Workers (NFMW) has grown to the largest fund within local government and with a membership base of more than 52 000 (employees and councillors) throughout South Africa, it is clear that we are the fund of choice.
We are a defined contribution fund and was established after negotiations at Bargaining Council level between the employer and trade unions and is registered in terms of the Pension Funds Act 24 of 1956.
The fund is managed by a Board of Trustees consisting of 10 member representatives and 1 employer representative. This means more than 90% of the Trustees are members of the fund.
The NFMW’s excellent long-term investment performance track record puts it on par with the best global balanced managed portfolios in South Africa and ahead of its peers in Local Government.
We pride ourselves in providing excellent service and the administration cost is of the lowest in the industry, this translates to less of our members' contributions towards cost and more towards retirement savings.
...is to always keep our members informed about what is happening in the fund; educate them so they understand the benefits they enjoy as members; guide and provide them with the necessary tools through ongoing interaction and equip them to make informed decisions to ultimately retire financially sound one day.
To be the benchmark of excellence in providing retirement benefits to local government employees, indicates that we endeavour to provide a correct and personalised service to each member of this Fund.
To provide financial security to members and their dependants. This is to be achieved by managing the fund in a professional and efficient manner, with the prime focus being on growing the retirement benefits in a competitive and risk conscious manner.
Board of Trustees effective 1 August 2020
Mr C C K Antonio (Chairperson of Board of Trustees); Ms M C Makgalemele (Chairperson of Communications Committee); Mr H S Rossouw (Chairperson of Investment Committee); Mr E A Schutte (Chairperson of Legal Committee); Mr N C Cindi; Mr L Geldenhuys; Ms M E Jantjie; Ms C J Labuschagne; Mr P S Mofokeng; Mr N J Nkuna; Mr P R Nolutshungu;Principal Executive Officer: Mr L Ndawana