Save for retirement, Nambawan members told

Business

NAMBAWAN Super members have been encouraged to invest a percentage of their contributions with the fund when they retire.
Chief executive officer Paul Sayer told members at a conference last week that they should not withdraw all their contributions.
“Once you retire you should think about leaving your money with the fund so we can pay you on a fortnightly basis and your money will also continue to grow through investments,” he said.
“We will take your money and put it to investments and the returns will come back to you.”
Sayer said people who were retiring wanted to start their own business and in the process take all their money out.
“Take for example a teacher who has worked for 30 years and when he or she retires, they want to start a business. Do they have the knowledge or even the opportunity?” he said.
“Leave with us so that we will invest for you.”
Chairman Anthony Smare said the big returns that the fund was bringing in should give confidence to members to leave their money so that they continue to receive the benefits.
“When you are coming to that retirement stage consider the returns that the fund has been able to make on investments,” Smare said.
“Keep your money in there so that the fund will continue to grow and protect your money.”
Smare said that the fund has been able to bring in big returns to its members in the worst five years of the country’s economy.
“When the economy goes into boom again members will get even bigger returns so you should keep your money in the fund.
“Consider getting the money on a fortnightly or monthly basis.”

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