National Fund for Municipal Workers

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April 2018

NFMW-greetings

The trustee elections to fill four vacancies on the Board of Trustees have been successfully concluded during April. It was conducted through postal ballot elections in Limpopo, Gauteng, Mpumalanga and the combined Western, Northern and Eastern Cape provinces, to ensure a smooth, democratic and fair election process, allowing all members in these provinces an equal opportunity to participate.

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March 2018

This edition includes an update on the trustee elections, the latest investment portfolio performance and the funeral cover requirements applicable to members who are joined in marriage with more than one person.

The latest benefit statements were posted to members at the beginning of March and members should please ensure that they review the information contained in the document and inform the fund if any of the information is incorrect or needs to be updated.

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2018 Trustee Elections (Deadline 12 April 2018)

As you are aware, the National Fund for Municipal Workers (NFMW) is in the process of electing four members of the Board of Trustees for the next term of office commencing 1 May 2018.

The first phase of the election process has been completed and the following valid nominations were received by the fund:

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February 2018

The trustee elections to fill four positions on the Board of Trustees are well underway.

We have received valid nominations and will now start with the second phase of the election process. Members in the participating provinces, where voting is required, will receive their election communication in the upcoming weeks. Thank you for your active participation.

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Viceroy report on Capitec and the effect on the NFMW

Viceroy Research recently released a report in which it alleges that Capitec has been engaging in what it called "reckless lending practices". As a result, Capitec’s shares were trading down by as much as 20% on Tuesday 30 January 2018.

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Hot off the press

This is our first news update for 2018 and we, at the NFMW, wish you and your loved ones a year filled with peace, prosperity and happiness. We are excited about the year ahead and will, as always, keep you informed about what is happening in the fund through our regular updates.

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Trustee elections

The National Fund for Municipal Workers (NFMW) is in the process of conducting trustee elections to fill four (4) vacancies on the Board of Trustees. 

In accordance with the rules of the fund the following seats are up for election:

Gauteng -  1 member

Western Cape, Eastern Cape and Northern Cape combined -  1 member

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Annual report (1 July 2016 - 30 June 2017)

The 2016/2017 Annual report is included in this month's edition which provides an overview of the fund's activities. You can watch the video on the key highlights for this period and download the complete document by clicking on the links below.

Please feel free to contact us if you have any questions or require assistance with fund-related matters.

Kind regards

Sean Samons
Principal Executive Officer

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October 2017

We are in the final stretch to the end of 2017 and I think most of us are looking forward to a well-deserved break in December. The NFMW had another successful year. The latest Annual report that provides an overview of the fund's activities will be e-mailed to members at the end of November with a hard copy of the report going in the mail during December.

Enjoy reading this edition of the monthly mailer and please feel free to contact us if you have any questions or require assistance with fund-related matters.

Kind regards

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