Super savings call

NASFUND members should take advantage of the benefit of compound interest while contributing towards their retirement savings, says chief finance officer Rajeev Sharma.
He said the benefit of compound interest could be seen when members leave their funds untouched for long. Compound interest will further grow members’ balance if members increase an additional amount from their mandated contributions of those of their employer.
For example, a member who increases with an additional contribution of K50 for the next 30 years will have a total additional balance of K40,866, out of which he would have contributed only K18,000, with K22,866 coming from interest.