Two pivotal investments to allow members to have some pre-retirement benefits are before the Minister responsible for the National Provident Fund (NPF) for consideration.
These are the Board’s Investment Subsidiary and a Lending Bank for members’ Housing needs.
Announcing this year’s crediting rate yesterday, Minister of Finance and Treasury who is also responsible for NPF Snyder Rini said these two investments must be commercially viable to give members their returns.
“I know before me for my consideration are two pivotal investments that should allow members to access some sort of pre-retirement benefits and these are the Board’s Investment Subsidiary and a Lending Bank for member’s Housing. These two investments must be commercially viable so they can look after themselves and to make a positive return on member’s funds that are invested in them.”
SIBC News understands, this year’s NPF crediting rate stands at 10 per cent.