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2020-10-2316.190721.210619.1681

Pensioner Newsletter

NJMPF PENSIONER NEWSLETTER

Your quarterly news update September – 2020

 

Message from the CEO / Principal Officer Bongi Mkhize

Welcome to the Spring edition of the Pensioner Newsletter for 2020.


Spring has sprung and even though the weather hasn’t been sunshine and roses, we have a few things to smile about. We continue to protect ourselves and others from Covid-19 by practicing social distancing, adhering to sanitising protocols and wearing our masks. South Africa is also slowly opening up, having moved to level 1 on 21st September. Our hearts go out to all those who lost their loved ones to the pandemic.

HOW LONG IS YOUR PENSION GUARANTEED FOR?

NJMPF Pensioners are guaranteed a pension for life. In an event of a death of a pensioner, a qualifying spouse or eligible life partner is entitled to a percentage of the pension paid to the pensioner at the time of death. The pension ceases in a case where there is no qualifying spouse. There is no benefit payable to other dependents upon death of a pensioner, unless a pensioner passes on within five years after retirement. It is important that the Fund be notified of the pensioner’s death.


The information we require :
• Certified copies of IDs,
• Marriage certificate,
• Certified copy of the pensioner’s death certificate.


Who is an eligible spouse? A person who, at the date of a pensioner’s death, was either the spouse in a marriage recognised as such under the civil law of the Republic of South Africa or a pensioner’s partner in a union according to customary law or in a union recognised as a marriage under any religion or in a relationship where the partners, who may be persons of the same or opposite sex, have cohabitated for such a period as the Board of Trustees in their discretion may accept as evidence of a permanent relationship and have shared a reciprocal duty of support.

YEAR OF THE CENTENARIANS

 

The NJMPF has pledged to use 67 Mandela Minutes to find a way to give back to our members, pensioners, or their communities. This is a new project that the NJMPF has adopted. This year the NJMPF wants to acknowledge Centenarians – celebrate the lives of pensioners who have reached the age of 100 years. The NJMPF visited and delivered a gift pack to one of the centenarians recently.


During October, the Fund will visit and deliver gift packs to the other two centenarians who are NJMPF pensioners.


Look out for the video of the ‘year of centenarians’ on our website.

MAINTAINING THE MOMENTUM

Victory songs and cries of joy may be muffled, coming through face masks, but that is no reason not to celebrate. Even in times of adversity, the NJMPF continues to strive for excellence. During the third quarter of 2020, the Fund continues to gain recognition amongst industry leaders and continues to be the benchmark for other pension funds in South Africa. The NJMPF scooped 6 Best Practice Industry Awards from the Institute of Retirement Funds Africa Awards program, 1 Acquisition International award, and 2 Stevie awards. Also a finalist at the World Pension Summit’s Innovation Awards 2020 – nominated in the category Communication & Member Engagement.

 

FINANCIAL TIPS TO ASSIST YOU IN THE MIDST OF A GLOBAL PANDEMIC

 

It’s difficult to navigate the current financial climate but seeking financial advice from a certified financial adviser and noting the following tips can assist you when making financial decisions.

Reduce expenses
Reducing your expenses will free up some money which will allow you to increase savings and avoid taking on new credit and credit cards.


Trim your Bills
Focus on paying off the debt you already have and don’t take on new debt.


Budget
Create a budget if you do not already have one. This will allow you to track your spending and point out areas which you might need to cut down on or cut off completely.


Save
Having an emergency fund can provide a financial cushion without relying on credit cards to pay the bills.


Disclaimer: these tips are intended to provide general information and shouldn’t be considered legal or financial advice.

PROTECTION OF PERSONAL INFORMATION ACT (POPIA)

POPIA came into effect on 1 July 2020 and the Fund will have 12 months from 1 July to become fully compliant. As a Member-centric Fund which places its members, and the safeguarding of their personal information high on our priority list, the Fund embarked on a journey towards POPIA compliance some time ago and that journey will culminate in full compliance by 1 July 2021.

ALERT LEVEL ONE

As the country moves to Alert level 1, it is important to remember that the Coronavirus has not disappeared – it is still among us and we need to remember to protect ourselves and those around us.

Joke: Why do we tell actors to “break a leg?’
                    Because every play has a cast.


Quote: “Ultimately, the greatest lesson that COVID-19 can teach humanity is                     that we are all in this together.”
                                                               – Kiran Mazumdar-Shaw