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the 30 participating countries achieved a score of at and communication. The NJMPF is also moving
least five out of seven, the minimum target score. South towards a more fun and playful manner of engaging
Africa barely reached the 30% score. stakeholders. The NJMPF has initiated the ‘playing
cards’ project - this initiative forms part and parcel of
In a retirement funding perspective, retirement
funds should advance the core business objective, the Funds’ financial literacy programme.
while simultaneously developing systems to enhance Globally, financial literacy levels are low and many lack
members and communities through creativity and the ability to understand essential financial concepts in
collaboration without incurring excessive costs. This making informed decisions about saving, investing and
view that drives plans and projects is motivated borrowing. This is especially true for South Africa and a
by team work, passion, strategic oversight, clear large population of the NJMPF’s membership.
and proper communication and education, placing The campaign is entitled “What is your deal when it
members at the core of decision making.
comes to retirement?”. Boring educational material
The competitive edge for the NJMPF is providing on money, credit, and investments can actually
superior service to stakeholders at low fees and discourage people of all ages from learning valuable
ensuring high investment returns which increases information that can help them make wise financial
members retirement benefits. decisions. Fortunately, money management lessons
masquerading as games can make learning about
Innovation finance easy and even fun. The NJMPF understands that
Using technology to lower fees is critical for a retirement the subject of retirement is tedious to some and many
funding service and its members. Experts believe that as people only start thinking about it when it’s too late.
entities have grown and complexity, specialisation, silos,
and ultimately hierarchy have choked off the capacity The playing cards have had a huge reputational impact,
to readily adapt and innovate. Finding innovative ways significantly raising awareness on debt manage-
to enhance and accelerate member participation in the ment and encouraging a saving culture. The NJMPF’s
retirement funding arrangement is important. financial literacy commitment is to help members move
towards a financially free future.
Some of the most recent innovations introduced by
the NJMPF is an interactive webpage to promote Enhanced Benefits to Stakeholders
information sharing, a mobile application that was Investment performance is a key agenda for any
created to promote education and communication retirement fund. The NJMPF has achieved excellent
and a new electronic system to verify the alive status short and long-term investment performance which has
of pensioners replacing the old manual process where enabled the Funds to increase and improve benefits to
pensioners were required to go to the commissioner of members and pensioners. Pensioners of the NJMPF are
oaths to get their annual declaration of existence form awarded increases and benefits which greatly improve
signed then posted back to the Fund. their standard of living.
NJMPF Goes Green Ethical Governance Culture
During March 2020, the Fund launched the ‘NJMPF The NJMPF has continued the tradition of obtaining
Going Green’ project. An important theme for pension clean audits from the Auditor General of its annual
funds currently is the choice trustees have on where financial statements in an environment where clean
to invest for a sustainable future. The NJMPF Going audits are rare. This is an indication of the good corporate
Green campaign highlights the need for a cleaner governance practices. The NJMPF is complying with all
planet and problems associated with climate change. principles applicable in the retirement industry.
The Fund has committed to adopt a gardening
spot, donate seedlings to each of the 55 associated
municipalities and motivate stakeholders to go back to
basics by growing vegetables at home and teaching
their children about healthy eating.
What is your deal when it comes to retirement?
The Fund continues the momentum of exploring
and finding modern ways of communicating with
stakeholders. With the change in legislation - increasing
penetration of online mediums of communicating,
the NJMPF is focusing on increasing the speed of
communicating and educating stakeholders whilst
also reducing the costs associated with this education

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