Exchange RatesR/$R/£R/€
2020-08-0717.646723.107520.8752

Newsletter

NJMPF MEMBER NEWSLETTER

Your quarterly news update – July 2020

MESSAGE FROM THE CEO/PRINCIPAL OFFICER

Welcome to the Second issue of the Member newsletter for 2020.


During this bleak time in our lives, where every television channel and radio station you tune into is reporting about the global pandemic, I want to wish all NJMPF members well during this difficult time – Stay Safe, Save South Africa.


This too shall pass, and we believe we will come out of this stronger than ever. During these uncertain times of market volatility, I wish to encourage Members to take a long-term view and not react to the current market movements. The Fund’s investment strategy is well-diversified across various asset classes and has sound risk management practices to cater for downside risks that emerge in the markets from time to time.

INVESTMENT PERFORMANCE TO 31 MARCH 2020

The Covid-19 pandemic has had a significant impact on investment markets all over the world. In South Africa we also saw a decline and our stock markets came under tremendous pressure, both of which affect the investment returns earned on our Funds.


The low point of the markets was towards the end of March, after which there has been a strong recovery in April and stability returning in May. The NJMPF investments performed at negative 16% in the first quarter to end March 2020. This is a material reduction in value, but the markets made a strong recovery and continue to show improvement. In April approximately 11% was regained, leaving the Funds about 5% lower after the first four months of the year.


Provident Fund members are affected by the market values of investments, which determine the eventual lump sum due to the Member and from which a pension can be purchased. If markets recover by the time a Provident Fund Member retires, the benefits will be unaffected by this period of poor returns. Provident Fund Members who retire before the markets have recovered have a few options open to them to enable them to improve their retirement outcome: You can leave your benefit in the Fund for a while to allow the market to recover, or take out a living annuity, which will also benefit your pension if the markets recover. These options should be discussed with the Fund’s Retirement Benefits Counsellor, who will explain your options to you.

NJMPF – INDUSTRY LEADER EVEN DURING A TIME OF UNCERTAINTY

 

The NJMPF is maintaining the momentum of being an industry leader. Your Fund has won five international awards for 2020 from the following institutions:


The European
• Best Pension Fund of the Year South Africa
• Best Managed Retirement Fund South Africa


Global Banking and Finance Review Awards
• Pension Fund Provider of the Year South Africa
• Best Corporate Governance Company South Africa


Capital Finance International (CFI)
• Best Pension Fund Leadership – South Africa 2020

COVID19 IMPACT ON MEMBER ROADSHOWS

 

Following President Ramaphosa’s address to the nation on 15 March 2020, putting in place measures to minimise the spread of the coronavirus, the Fund suspended all member presentation roadshows. To keep stakeholders informed during this period, the Fund uses electronic communication like bulk email campaigns, website, mobile app, social media and sms’s when communicating. Members are encouraged to update their personal details with the Fund, download the NJMPF mobile app on google play or apple app store and regularly visit the NJMPF website to keep up with the developments of the Fund.

 ENSURE YOUR LOVED ONES ARE TAKEN CARE OF SHOULD YOU PASS AWAY

 

It is important to regularly review and update your NJMPF beneficiary nomination form as it serves as an important guideline to the Trustees to help identify the member’s dependents. Completed forms can be sent to info@njmpf.co.za. Forms are also available from the NJMPF website: www.njmpf.co.za

NJMPF FACEMASK COMPETITION 

A critical element of curtailing the coronavirus disease is the use of face masks. The NJMPF has launched the ‘When you wear the mask, the mask protects you’ campaign.


Encouraging everyone to wear masks when leaving the house for essential goods was a key part of our campaign. This was also to assist members in having something worthwhile to do, while on lockdown. We would like to thank you all for participating. We are delighted to introduce the two competition winners;

Pensioner: Heather Wessels                               

Member: Susan Roos



MEMBER BENEFIT STATEMENTS

 

It is important for every contributing member of the NJMPF to monitor their current levels of retirement savings and track whether they are saving sufficiently for a comfortable retirement. To ensure members are able to nurture their retirement savings nest, the NJMPF distributes Benefit Statements to municipalities annually during June and July. members are encouraged to visit their Human Resources office to collect a copy of their Benefit Statement.


Reminder

Attached to the benefit statement is a nomination form along with a section to update your contact details. Members are advised to check their nomination form for accuracy.
Members can obtain their benefit statements through the Fund’s website and mobile App 24/7.

COVID-19 SAFETY TIP