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RETIREMENT SAVINGS

A TRUSTED CUSTODIAN THAT GROWS MEMBERS’ INVESTMENTS and keeps members informed along the way to a secure retirement

T

he National Fund for Municipal Workers has grown to be the largest retirement fund in the Local Government industry and with more than 54 000 active members employed at 214 municipalities throughout South Africa, it is clear that NFMW is the fund of choice. The NFMW has been providing retirement and ancillary benefits to Local Government employees and councillors for more than 24 years. As a defined contribution fund, the NFMW was established after negotiations at Bargaining Council level between the employer and trade unions and is registered in terms of the Pension Funds Act 24 of 1956. It is managed by a Board of Trustees consisting of 12 member representatives and 1 employer representative. This means that more than 90% of the Trustees are members. The NFMW takes pride in the provision of service excellence and its administration costs, which are among the lowest in the industry, and this translates to lessening members' contribution costs and increased retirement savings. The Fund's vision is to positively impact the lives of members, their families and their communities, today and tomorrow - and its mission is to be a trusted custodian who grows members' investments and keeps members informed along the way to secure retirement.

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Municipal Focus

What sets the NFMW apart? • Their members are at the centre of everything they do: decisions, behaviours, and the strategies in the management of the Fund. The Fund's purpose of existence is to financially secure the future of its members. • Service excellence • Low administration costs

translate to less of members’ contributions towards the cost of administration and more towards savings. • The NFMW has an excellent long-term investment performance track record on par with the best global balanced managed portfolios in South Africa and ahead of other local government retirement funds.

Profile for kwedamedia

Municipal Focus Volume 52  

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