National Fund for Municipal Workers

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

Sean Samons
Principal Executive Officer

Indemnity statement

The National Fund for Municipal Workers does not accept liability for any loss, damage or expense that may be incurred as a direct result or consequence of reliance upon the information in this document. If there is any conflict between the information in this document and the actual Rules of the Fund, the actual Rules of the Fund will prevail.

Investment portfolio performance

Portfolio Sept '17 Cumulative YTD
Capital Protector 0.62% 2.49%
Stable Growth -0.01% 3.19%
Capital Growth 0.49% 4.34%
Aggressive Growth 0.38% 4.56%
Shari’ah 1.79% 5.93%

Home loan applications

Please note that the closing date for the submission of RFS home loan applications is the 17th of November 2017. Applications will reopen on the 2nd of January 2018.

The latest fund fact sheets are available on the fund's website

Category A (2%) fund - Changes to risk category A0

The NFMW introduced a new risk category (A0) which provides members who are 40 years and older with the option to choose to have no death and disability cover (risk cover). This means that no cost will be deducted from the monthly contributions for the death and disability cover, but should you pass away or become disabled whilst in service only your accumulated savings (fund credit) becomes payable.

Eligible members have the option to change their Risk cover option to A0 before the end of November for the change to be implemented immediately. Please to download the form.

Members have an option to change their risk category twice a year, effective 1 January and 1 July and are covered for the funeral benefit irrespective of the risk category elected.

Latest on the National Social Security Fund (NSSF)

It was recently confirmed that Government intends to push forward with the introduction of a National Social Security Fund (NSSF).

This centrally managed public fund is aimed at providing pensions, death, disability benefits and unemployment benefits and will operate on a defined-benefit basis.

Read more

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