Search past winners/finalists

NJMPF - Company of the Year

Gold Stevie Award Winner 2016, Click to Enter The 2017 Stevie Awards for Sales and Customer service

Company: Natal Joint Municipal Pension Funds/KwaZulu Natal Joint Municipal Provident Funds, Durban, South Africa
Company Division/Group: NJMPF
Company Description: The NJMPF has been existence for over 73 years in the retirement fund industry in the province of KwaZulu-Natal, South Africa. The NJMPF membership is approximately 30 000 including pensioners. Our vision is to provide superior retirement service and benefits to our members, beneficiaries and pensioners. For more information please visit our website www.njmpf.co.za.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Financial Services - Medium-size

Nomination Title: Natal Joint Municipal Pension Funds

Tell the story about what this nominated organization has achieved since 1 January 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.

Batseta (Council of Retirement Funds for South Africa) award given to the NJMPF for best educational campaign on Financial Literacy.

Award for excellent educational stakeholder programme on financial literacy in the category of Financial Knowledge and Understanding.

Institute of Retirement Funds Africa (IRFA) award given for the best of breed in: -

Investment Practices,
Good Governance and,
Financial Reporting in the whole industry.

Africa Investor (Ai) is a leading international investment and communications group.

Mr. Sam Camilleri was awarded the Up and Coming African Institutional Investment Personality of the Year in 2016, this was a great achievement for Sam Camilleri CEO/Principal Officer at NJMPF.

Capital Finance International (CFI) awarded NJMPF a triple award in recognition of the fund’s benchmark-setting performance in below categories:-

Best Corporate Governance Pension Fund, RSA, 2016,
Best Retirement Services, RSA, 2016,
Best Practice, RSA, 2017,
Best Corporate Governance, RSA, 2017,
Best Pension Fund Stakeholder Benefits, RSA, 2017.

The European Global Banking & Finance award programme recognises organisations and individuals that stand out from the crowd and are consequently moving their industries forward, below are awards awarded to the NJMPF in 2016 and 2017: -

Best Performing Pension Fund of the Year in South Africa 2016,
Best Performing Pension Fund of the Year, South Africa, 2017,
Financial CEO of the Year, South Africa, 2017

World Pension Summit focuses on funds that use innovation to drive their pension funds and in the industry.

NJMPF received overall award for innovation and excellence in Communications, Investments and Technology.

The NJMPF recent projects and campaigns, reveals and shows how it continues to move forward.

Ethical corporate governance culture

The NJMPF, for many years has achieved an overall score of AAA, which is the highest notch achievable. This shows the continued nature of good governance persevered by the NJMPF.

Maintaining Clean Audit reports - the Auditor-General of South Africa has a constitutional mandate and exists to strengthen accountability and governance in the public sector. The NJMPF has continued to achieve clean audit reports in an environment where clean audits are rare.

Enhanced benefits for stakeholders

NJMPF has been able to sustain good investment returns for stakeholders. Per the NJMPF’s, actuary who is independent from the administration of the NJMPF, who has reported if you had invested R 1 million with NJMPF (Provident Fund) in the year 2000, your investment earnings would have increased significantly by 9 fold, to be worth more than R 9 million (after costs) in the year 2016.

Pensioners of the NJMPF are awarded increases and benefits which greatly improve their standard of living. If the market performs well, NJMPF pensioners also receive ad-hoc bonuses or once off special increases, the most recent being a special increase of 8.33% which was paid from January 2016.

Low expense fees: Resulting in enhanced member benefits

Expenses Fees in the Provident Fund the Employer contributes 3.75% of member’s pensionable emoluments towards the Risk Reserve. The 3.75% is a reserve to cater for the total operating costs incurred by the Fund for providing death and disability benefits, administration expenses and all other expenses.

NJMPF is working on finalizing a plan with the assistance of the Fund’s Valuator whereby monthly annuities will be offered by the Provident Fund at significant discounts for our members.

Improved Mediums of Communications

To enhance relations and open communications with stakeholders, the NJMPF recently introduced better and improved methods and mediums of communications to promote access to information and ensure stakeholders are kept abreast of recent fund activities.

Highlighted are 7 new ways of communicating with stakeholders;

-Enhancing relationships between NJMPF and Local Authorities,
-Beneficiary Fund Roadshows,
-Pensioner Presentations,
-Attendance at Active Member Roadshows,
-Update Member & Pensioner details,
-Mobile Application,Webpage.
-Insourcing to improve benefits: Risk Benefits, Rationalization of Pension Funds, Active Asset Management.

In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2016 (up to 150 words).

-NJMPF has been awarded 4 South African and 10 International awards. Making it a total of 21 local and 11 global awards.
-Clean audits for decades.
-Top quartile investment performance.
-Using information technology to drive innovation.
-Implementing financial literacy programme to promote/improve financial awareness to assist members in financial matters.
-Our Client Relationship Management system is beyond the Client Service Centre team. This system is used to record/monitor incoming queries.
-Declaration Form (Proof of Life) for pensioners – automated sms notification system has been introduced to;
-Notify of receipt of declaration form and monthly pension activated.
-Reminder regarding non-receipt of the declaration form.
-Notice to contact client services centre.
-A special project focussing on the unclaimed benefit, reduced the unclaimed value of benefits including accrued interest to R4 million - a mere 0.02% of Funds assets.
-Good governance culture.
-Everything is in-house even death benefits to control costs.

Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2016?

Overall Innovation