Nasfund making 8pc payment into accounts

NASFUND has advised its members that the crediting of the eight per cent interest into their accounts will begin from today to Sunday.
In this period, it will not be processing any work-related to payments, contribution allocations or member account maintenance.
Chief executive Ian Tarutia in a statement said “members can expect to see an increase in their savings once interest crediting is completed”.
“Members using the smartphone app or online access can check their transaction history to see their new balance.
“Following member surveys conducted in the first quarter of 2017 and 2018, 85 per cent of members prefer receiving their annual statements by visiting a branch, contacting the call centre or through online access and smartphone app.
“Only 15 per cent of members prefer receiving their annual statements through their employers or postal address.
“It is our objective to phase out hard copy statements and replaced by electronic or e-statements.
“This improves internal efficiencies and removes the logistical challenges in distributing 200,000 statements annually.
“Five staff who would previously attend to this manual paper statement process are now freed up to do other value-enhancing work to service members.”