Page 169 - KZN Top Business Portfolio 2018

minimum target score. South Africa barely reached Financial Education
the 30% score. Currently, the NJMPF teamed up with the National
In a retirement funding perspective, retirement Credit Regulator (NCR) as it has recognised that
funds should advance its core business objective, within its own membership, members are burdened
while simultaneously developing systems to enhance with debt. In collaborating with the NCR, the NJMPF
members and communities through creativity and has been able to offer its members and pensioners
collaboration without incurring excessive costs. This advice on debt and credit management from the
view that drives plans and projects, is motivated experts (NCR) themselves. Partnering with the
by team work, passion, strategic oversight, clear regulator allows for leveraging of expertise on credit/
and proper communication and education, placing debt management education and educating NJMPF
members at the core of decision making. members at no cost. During the past years instead of
In the past years, the NJMPF has partnered with the
The competitive edge for the NJMPF is providing Financial Services Board including the Office of the
superior service to stakeholders at low fees and Pension Funds Adjudicator and the legal advisor to the
ensuring high investment returns which increases Fund to educate stakeholders about issues relating to
members retirement benefits. financial literacy.
Innovation Enhanced Benefits to Stakeholders
Using technology to lower fees is critical for a Investment performance is a key agenda for any
retirement funding service and its members. Experts retirement fund. The NJMPF has achieved excellent
believe that as entities have grown and complexity, short and long-term investment performance which
specialisation, silos, and ultimately hierarchy have has enabled the Fund to increase and improve benefits
choked off the capacity to readily adapt and innovate. to members and pensioners. Pensioners of the NJMPF
Finding innovative ways to enhance and accelerate are awarded increases and benefits which greatly
member participation in the retirement funding improve their standard of living.
arrangement is important.
Ethical Governance Culture
The NJMPF is introducing a barcode ballot voting The NJMPF has continued the tradition of obtaining
system for voting of the Board of Trustees. The NJMPF clean audits from the Auditor General of its annual
is among a few if not the only South African retirement financial statements in an environment where clean
fund to provide a barcoding voting system for the audits are rare. This is an indication of the good
voting of Trustees.
corporate governance practices. Further, in ensuring
During 2016, the NJMPF introduced an interactive the maintenance of good governance, the NJMPF has
webpage to promote information sharing and during subscribed to the Institute of Directors King Code of
2017, a mobile application was created to promote Governance Principles. The NJMPF is complying with
education and communication. all principles applicable in the retirement industry.

Full Name of Company: Natal Joint Municipal Pension/ KEY PERSONNEL
KwaZulu-Natal Joint Municipal Provident Funds (NJMPF) CEO / Principal Officer: Sam Camilleri
Industry Sector: Financial Services - Retirement Chief Operating Officer: Cheryl Ward
Funding Industry Chief Financial Officer: Bongi Mkhize
Services / Products: Retirement Products - Public Relations Manager: Lunga Mahlaba
Superannuation Fund, Retirement Fund and Provident
Fund Human Resources: Nozipho Madlala
Date Established: 1942 Financial Manager: Zinhle Ndlovu
Customer Base: 20 000 Active Members and 10 000 CONTACT DETAILS
Active Pensioners = 30 000 Total Membership Physical Address: 5 Derby Place, Derby Downs Office
No. of Employees: 39 Park, University Road, Westville, 3630
B-BBEE Status: We are a retirement fund focused on Postal Address: PO Box 33, Westwood, 3633
transformation in the industry Tel: +27 (0)31 279 5330
Auditors / Accountants: Internal Auditors - Deloitte, Fax: +27 (0)31 266 6715
External Auditors - Auditor General (AG) E-mail: info@njmpf.co.za
Bankers: Standard Bank Website: www.njmpf.co.za

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