Superfund looking to impart financial training

By CLARISSA MOI
NAMBAWAN Super Ltd (NSL) will be introducing its financial well-being training this year to prepare members for their retirement, chairman Anthony Smare says.
Speaking during the superfund’s rebranding launching last Wednesday, Smare said the programme would be put into the fund’s comprehensive value member engagement programme.
“And by the end of the year, we expect to see more than 2,000 members to have completed tailored, financial literacy training helping them get most out of their super,” he said.
“It is very satisfying to see members reaching the end of their working life with an average now of over K135,000 in savings.
“And our longest serving members generally have much higher savings.
“Helping members prepare for their retirement and in managing their savings has always been the focus of the fund.
“In 2020, we will be introducing our financial wellbeing training programme.”
While explaining the features of the fund, Smare said NSL was a profit for members’ only accumulation fund.
“People don’t realise that all the profit we make goes back to the members’ accounts,” he said.
“We are essentially the largest non-profit entity in the country,” “This also means that we can pull all the contributions that our members provide and invest in a range of companies, properties and grow value and to make profits for our members.
“And it is wonderful that the community members and the government see the growing fund and the total asset value of the fund as a success story.
Smare said thinking that the fund’s profits are kept somewhere was far from the truth.