NJMPF PENSIONER NEWSLETTER
Your quarterly news update – December 2019
Message from the CEO / Principal Officer Bongi Mkhize
Welcome to the summer issue of the Pensioner Newsletter 2019.
‘Tis the season to be jolly.’ The year 2019 has been a gripping year. As we draw closer to year end, let us recap on some of the memorable events that took place this year:-
We said goodbye to Mr. Sam Camilleri and welcomed Mr. Bongi Mkhize as CEO/Principal Officer.
The NJMPF is still the most awarded Retirement Fund in South Africa, having received 17 awards locally and internationally for the year 2019. To date the Fund has a total of 80 industry awards. This recognition of excellence proves that superior retirement services provided by the Fund to members equates to improved retirement outcomes for members.
The Fund saw the promulgation of the rationalised regulations – new Fund rules which bring the equalisation of benefits in the two defined benefit funds, namely the Superannuation and Retirement Funds.
YEAR END BONUS
In the July 2019 newsletter the Fund was pleased to advise that the Board of Trustees had approved a full Consumer Price Index (CPI) increase of 4.49% to Pensioners which took effect on 1 July 2019. A pro-rata increase was paid to Pensioners whose pensions commenced during the year 1 April 2018 to 31 March 2019. We are now pleased to announce that a special bonus of 50% of one month’s pension was awarded and has been paid with the November 2019 pension payment. This applies to all Pensioners who were Pensioners as at 31 March 2019.
The awarding of the 50% bonus is especially pleasing to Pensioners, as the low investment portfolio performance due to adverse market conditions could have result in no bonus for the 2019 year.
ANNUAL INFORMATION MEETING
Note for your Diary:
The NJMPF AIM has been earmarked for early March 2020. This is always a great day for us to interact with you and bring you all the news of the Fund.
We hope to see you there!!
NJMPF GOES GREEN
The truth is we all need to get into the habit of taking care of our environment and being mindful of the harm we cause to the planet that provides for us.
Once discarded, plastic materials can take decades or centuries to break down. By repurposing plastic refuse into new “goods”, this recycling helps the environment and creates new economic opportunities.
The NJMPF will be going green in 2020 and will bring you a news update in our next newsletter.
While we do acknowledge the spirit of giving that characterises the Christmas season, we believe that responsible spending – without incurring debt – is a far healthier option for any household.
Enjoy the festive season, but remember your financial commitments going forward into the new year.
Savings Tips for Spending Wisely:
1. If you did not budget for a Festive Season trip, stay at home,
2. If you didn’t save, don’t borrow to spend,
3. Avoid buying on impulse, resist those SALE signs,
4. When you see SALE, think SAVE, for next year’s obligations await,
5. Have you budgeted for next year’s school requirements: fees, stationery, uniforms?
PENSION PAY DATES
We know that your pension pay dates are important to you, so we have included the dates for 2020 for easy reference.
You know what the young chicken said to the old chicken?
“You’re no spring chicken!”
Wake up in anticipation that something great is going to happen today.