News

NFMW Latest News update

As we have been communicating, the National Fund for Municipal Workers (NFMW) is in the process of electing seven members of the Board of Trustees for the next term of office commencing on 1 November 2020. The first phase of the election process is complete and valid nomination forms were received in all the provinces. It is now time for the members in the provinces where voting is required, to cast their vote.

NON-PAYMENT OF CONTRIBUTIONS BY AN EMPLOYER

The Financial Services Tribunal rules in favour of the National Fund for Municipal Workers (NFMW)

2020 NFMW TRUSTEE ELECTIONS

As you are aware, the National Fund for Municipal Workers (NFMW) is in the process of electing seven members of the Board of Trustees for the next term of office commencing 1 November 2020. The first phase of the election process is complete and the following valid nominations were received by the fund.

NFMW wins awards, Unitisation a Switching webinar and Funeral cover for your extended family members

It gives me great pleasure to announce that the NFMW has won a total of five Institute of Retirement Funds Africa (IRFA) Best Practice Industry Awards for the year 2019/20. Best in Class - Investment Practices Best in Class - Governance Best Practices in Transformation Best Practices in Financial Management and Reporting Best Practices in Stakeholder Engagement and Education

2020 NFMW Trustee elections

The National Fund for Municipal Workers (NFMW) is in the process of conducting Trustee elections to fill the following seven vacancies on the Board of Trustees, effective 1 November 2020. Each member has the right to nominate another member to stand for election in his/her own province. Members are invited, but not compelled to nominate only one person. The election process document and nomination form provided below were posted to all fund members.

Five factors that can have a direct impact on a member's retirement savings

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.

 

The Benefits of being a member of the NFMW

The fund's primary objective is to provide benefits for its members on their retirement or withdrawal and for their dependants or nominees in the event of the member's death. Generating investment returns for members is important to achieve this goal, but this is just one of the benefits of being a member of a retirement fund.

 

Here are some of the benefits that are worth taking note of:

 

Total contributions paid

Investment update May 2020

Following from our recent economic update, members are well aware of the spread of the Coronavirus pandemic on a global scale and the rising local infections. The uncertainty created by the spread of the virus, the lockdown restrictions, the soaring unemployment figures and the impact on small, medium and large businesses, resulted in some severe market reactions.

Management changes within the National Fund for Municipal Workers

Please be advised that Mr Sean Samons, who has been the Principal Executive Officer of the NFMW, is no longer serving in that capacity. The Board of Trustees of the NFMW has appointed Mr Leslie Ndawana to act in the position of Principal Executive Officer with effect from 6 May 2020. Mr Ndawana has been with the NFMW as the Deputy Principal Executive Officer since 1 September 2017.

Latest investment update (April 2020)

A webinar recording on the latest NFMW's investments and the COVID-19 pandemic is provided as well as our contact information during the lock down period. Please remember, we are always here to help if you need any information or assistance with a fund-related query.

Newsletter March 2020

During these uncertain and challenging times it is understandable that members may be concerned about the impact of COVID-19 on their retirement savings. With continued volatility in all asset classes expected it is however important to retain your long-term focus and not make any rash decisions, that can have a negative long-term investment impact.

NFMW Office Closure (COVID-19 national lockdown)

President Cyril Ramaphosa announced a national lockdown for 21 days that will be implemented from midnight on Thursday in response to the growing threat of Covid-19. The lockdown period was further extended to end of April 2020. As a result, the NFMW offices are closed and will re-open after the lockdown period. Our staff will continue to work remotely to ensure the minimum disruption and to continue with service delivery.