NFMW Latest News update

Submitted by webbest_admin on Mon, 08/31/2020 - 15:48

Good day,

We trust that you are all keeping well.
  
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. The election documentation which explains the election process and includes a profile of each of the candidates is provided in this mailer. The documentation will also be posted to members. We look forward to your active participation!

The NFMW is a diverse fund, providing different benefits options to address the needs of our members. Benefit payment options are also provided to members at retirement and more information on this is included. As a fund, we understand our members’ need for housing. As a result, we assist members to obtain housing loans through providing surety/guarantees to credit providers for home loans issued to our members. Details on how to access these loans, the contact details for the financial credit providers and the application forms are provided in this mailer.
 
Please remember, we are always here to help if you need any information or assistance with a fund-related query. 
 
Regards,

Leslie Ndwana

 

 

 

 

 

 

Leslie Ndawana
Principal Executive Officer 

 















2020 TRUSTEE ELECTIONS: IT'S TIME TO CAST YOUR VOTE

The first phase of the election process is complete, and the following valid nominations were received by the fund.
 
GAUTENG (Two vacancies)

Valid nominations were received for the following five candidates

  • Constance Jacobs
  • Catharina Johanna (Rina) Labuschagne
  • Mamotlhabane Christina Makgalemele
  • Pule Simon Mofokeng
  • Lucky-mor Mphuthi

LIMPOPO (One vacancy)

Valid nominations were received for the following four candidates

  • Beverley Buys
  • Sekedi Peter Mapatha
  • Moshe Moses Moraba
  • Eugene Schutte

FREE STATE, NORTHWEST AND KWAZULU NATAL COMBINED(One vacancy)

Valid nominations were received for the following four candidates

  • Mamoroesi Evelyn Jantjie
  • Sibongile James Mpembe
  • Seabata Shadrack Ramoliki
  • Hendricus Sarel Rossouw

WESTERN, EASTERN AND NORTHERN CAPE COMBINED (Two vacancies)

Valid nominations were received for the following two candidates and no voting is required

  • John Dodo
  • Ludwe Raymond Nani

MPUMALANGA(One vacancy)

One valid nomination was received for the following candidate and no voting is required.

  • Nkosinathi Clive Cindi

The election documentation will be sent to members employed at the municipalities within the Gauteng, Limpopo, Free state, Northwest, and KwaZulu Natal provinces via post or can be downloaded by clicking on the links provided below.

 

TRUSTEE ELECTION DOCUMENTATION

Please click on the links below to download the election documentation which explains the election process, provides a profile of each of the candidates and contains the election form.

Gauteng

Limpopo

Free state, Northwest and KwaZulu Natal combined

PLEASE NOTE!

The completed election form can be faxed to 086 668 1155 or e-mailed to elections@nationalfund.co.za or posted to P.O. Box 15515, Sinoville, 0129, to reach the offices of the National Fund for Municipal Workers before the closing date. The closing date for the submission of election forms is 9 October 2020.


If you have any questions or queries, please do not hesitate to contact us via e-mail at elections@nationalfund.co.za

 











BENEFIT PAYMENTS AT RETIREMENT 

Normal retirement age in the fund is at the age of 65 years, but a member can go on early retirement from the age of 55. The fund consists of three categories, with separate benefit structures and the options in the benefits payable may differ.

  • The retirement fund (also known as Category C) is a provident fund.
  • The 2%-fund (also known as Category A) is a fund established through collective bargaining. Membership has therefore been a condition of service at certain participating employers since 1987.
  • The pension fund (also known as Category E)

The benefits payable to a member in the different categories are as follows.

 CATEGORY  C AND A

 E

 Resignation and Dismissal benefit  Payable as a cash lump sum benefit  Payable as a cash lump sum benefit
 Disability benefit  Payable as a cash lump sum benefit  In the event of medical disability only one-third of the pension benefit may be taken as cash (should the total benefit amount exceed R247 500).
 Retirement benefit  Payable as a cash lump sum benefit  In the event of retirement, only one-third of the pension benefit may be taken as cash (should the total benefit amount exceed R247 500).

 

Members are encouraged to preserve their retirement savings and have the following options available;

A benefit may also be disbursed in any combination of the above options, allowing a member to utilise his/her benefit in a manner that is best suitable to his/her financial requirements.

Always obtain professional financial advice when making important investment decisions. 

 

 

 

 

 

 

 

PENSION-BACKED HOME LOANS

The fund understands its members' need for housing finance and therefore provides housing loan guarantees based on a maximum percentage of a member’s fund credit. The loan is subject to approval by the relevant credit provider and must be used for housing purposes i.e. renovating of property, purchasing of property and/or a plot and/or for the settlement or partial settlement of an existing bond.
 
Members have the option to make use of the following two financial credit providers: Standard Bank and RFS Home Loans. Please note that your employer must have an agreement with your chosen financial credit provider, in order to apply for the home loan facility. 

The application forms for both financial credit providers, including the list of supporting documents required, are available on the fund’s website www.nationalfund.co.za or can be downloaded by clicking on the following links;

Standard Bank Pension Backed lending application form
RFS Home loans application form

The contact details for the respective financial credit providers are provided should you require further information and assistance with the home loan application process: Standard Bank Pension Backed lending - 086 100 9429 or Pblloanorigination@standardbank.co.za RFS Home loans – 012 523 5555 or morris@rfshomeloans.co.za