National Fund for Municipal Workers

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Newsletter Feb 2020

Members have raised concerns regarding prescribed assets and what impact this could have on their retirement savings. We communicated on this in a previous mailer and to date there have not been any further developments.

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Jan 2020

This is the first edition for 2020 and we wish you all the best for the year ahead. We trust that this will be another successful year for the fund. The NFMW's membership base now exceeds 52 000 and we remain ahead of our peers with our long-term investment performance track record.

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Seasons greetings Oct 2019

This is the last edition for 2019 and most of us are looking forward to a well-deserved break.The latest investment returns are provided in this mailer and please also take note of the office closure dates.

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NFMW Annual Report & Key Highlights (1 July 2018 to 30 June 2019)

The NFMW had another successful financial year and we are excited to provide you with the electronic version of the 2018/2019 Annual report and Key highlights video in this month's edition.

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Oct 2019

Can you believe that we are at the end of October already, which means there are only two months left until the end of 2019? The latest Annual Report, providing an overview of the fund for the 2018/2019 financial year, will be posted to members at the end of November. Members are encouraged to ensure that the fund has their correct addresses on record in order to receive their packs updating their contact details. An electronic version of the report will also be distributed as part of the next news update edition.

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Investment update Oct 2019

In the volatile investment climate that we are currently experiencing, and have been experiencing for some time now, it is understandable that members would be concerned about the impact that the most recent investment portfolio returns may have on their retirement savings. In this special edition of the mailer we provide answers to the questions that we have received on this topic, which we trust will also address any concerns you may have.

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Sep 2019

Member and employer contributions are payable to the fund by no later than the seventh (7th) day after the end of the month in respect of which the contributions are payable. For example the September-contributions must have been paid to the fund by the 7th of October. Non-payment of contributions by an employer can have a negative impact on members and an article on this important topic is provided later in this article.

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Aug 2019

President Cyril Ramaphosa's statement in the national assembly that South Africa should have a national conversation about the use of prescribed assets, has again created some concerns amongst our fund members. Prescribed assets could refer to the percentage of retirement funds’ assets that, by law, must be invested in bonds issued by the SA government and state-owned enterprises.

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Jul 2019

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.

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