Edition: APril / June 2016
EXPERT OPINION

NATAL JOINT MUNICIPAL PENSION FUND

NJMPF recognised internationally for excellence

The NJMPF which administer retirement benefits for municipal employees in KwaZulu- Natal, have scooped further awards – this time internationally – for good governance and offering an economic value-added service to all stakeholders.

Capital Finance International (CFI), a London-based print journal and online resource organization, reports on business, economics and finance. It rewards best practices found anywhere in the world through its Awards Programme.

It has declared NJMPF the 2016 winners in two categories; Best Corporate Governance Pension Funds RSA and Best Retirement Services RSA: “The CFI judging panel is pleased, and impressed, with the all-round dedication to excellence it found at the NJMPF.

The judges have come away with the distinct impression that the NJMPF’s board of trustees, principal officer and staff are not satisfied with merely meeting relevant benchmarks, but determined to raise the bar even higher. The panel is happy, and indeed feels obliged, to present the NJMPF funds with double recognition: the 2016 Best Retirement Service South Africa and the 2016 Best Corporate Governance Pension Funds South Africa.”

Sam Camilleri, NJMPF chief executive and principal officer, says: “This is the first time an SA retirement fund has won in these two categories. It is an exceptional achievement for SA, KwaZulu-Natal and Durban.”

The culture at the NJMPF constantly reinforces such values as transparency, efficiency, loyalty, diligence and excellence. The fund takes seriously the protection and savings growth of members over prolonged timeframes. Through constant training, refresher courses and interaction with senior officials, staff members are made aware of their fiduciary duties. Effective processes are in place to ensure full transparency, compliance with best practice and adherence to the highest standards of corporate integrity.

Members are constantly concerned about protection and growth of their lifetime savings. Good corporate governance is critical. If governance is weak, with irregular monitoring/evaluating processes, members will not have the comfort that their lifetime savings are in safe hands. The NJMPF takes prides in its strong governance principles and practices.

The NJMPF fully subscribes to the King III principles on corporate governance and strives to implement its recommendations wherever practical. For many years the NJMPF has been obtaining AAA status from the Institute of Directors Governance Assessment Instrument from the Institute of Directors in Southern Africa.

In addition, for over a decade NJMPF audit reports have been free of any qualification. This means there are no matters of concern for members. Further, NJMPF’s experienced asset managers have succeeded in consistently outperforming the benchmarks for each portfolio.

Pension fund administration entails more than securing consistently solid returns. Here the NJMPF shines with sector-leading excellence in the delivery of services. It maintains a number of initiatives aimed at delivering optimum education and communication with all stakeholders and safeguarding their interests.

The NJMPF is also proud of its effective communication and education strategy, for which it has won several industry awards. And, in progressing the agenda for financial education and transparent communication, NJMPF has launched a new, improved website (www.njmpf.co.za) with many beneficial features for members.

They will now be able to access their benefit statements online, anywhere at any time. The NJMPF website provides online calculators for home loans, vehicle repayments, budgeting and investment. It also contains online educational videos relating to fund rules.

What’s more, the net replacement ratio (NRR) features strongly on the website. It can be used to help members plan better for retirement.

NJMPF is inspired by its achievements. It will continue to maintain world’s best practices to fulfill its responsibility of safeguarding members’ benefits.

   

To learn more, please visit www.njmpf.co.za
or call us on 086 106 5673.