National Fund for Municipal Workers (NFMW)
Contact DetailsPhysical Address: Section 1, Business Park @ Zambezi 860, Milkplum Street, Montana, 0182
Postal Address: PO Box 15515, Sinoville, 0129
Telephone: +27(0)12 743 3000
IndustryRetirement Fund for Officials and Councillors in Local Government
Nfmw - A Trusted Custodian Who Grows Members’ Investments And Keeps Members Informed Along The Way To A Secure Retirement.
The National Fund for Municipal Workers (NFMW) has grown to be the largest retirement fund in the Local Government industry with more than 53 000 active members employed at 214 municipalities throughout South Africa. The NFMW has been providing retirement and other ancillary benefits to Local Government employees and councillors for more than 24 years.
- Our members are at the centre of what we do, our decisions, our behaviours, and the strategies that we employ in the management of the fund. The fund’s purpose of existence is to financially secure our members’ future.
- We pride ourselves in providing excellent service and our administration cost is arguably the lowest in the industry; this translates to less of our members’ contributions towards cost and more towards retirement savings.
- The NFMW’s excellent long-term investment performance track record puts us on par with the best global balanced managed portfolios in South Africa and ahead of our peers in local government.
Mr Leslie Ndawana, who was appointed as the NFMW’s Principal Executive and Chief Executive Officer in August 2020, shares his aspirations for the NFMW:
"I want the fund to be a recognised participant in the dialogue on issues of national importance such as sustainable socio-economic development of our nation, transformation, equality, and justice, among others.
The retirement assets/savings managed by the NFMW and other retirement funds should also contribute to creating an environment that is conducive to live in, such that our members benefit from the fund’s assets not only at retirement, but also during their working life. The fund strives to positively impact the lives of its members, their families, and their communities, today and tomorrow.
Lastly, I would want the NFMW to develop into the most trusted custodian within local government, growing our members’ investments and keeping them informed along the way to a secure retirement.
Employees in the Local Government sector have realised the value of being an NFMW-member and many who are not yet members due to the current restrictions, are waiting for the pension funds rationalisation exercise to liberalise the Local Government retirement funds industry for them to join the Fund of Excellence, NFMW. "
The NFMW has won numerous Institute of Retirement Funds (IRFA)- Best Practices Industry Awards
2018 Overall winner communication strategy
2019 Financial management and reporting, governance, investment practices, and a Gold Standard-award
2020 Best in class – Investment practices, Best in class – Governance, Best practices in transformation, Best practices in financial management and reporting and Best practices in stakeholder engagement and education.
These awards are a testament to the fund’s compliance with all regulatory and other statutory requirements and above all, recognition for setting the benchmark of excellence in Local Government.