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NBC Scoops another PMR award
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We have great pleasure in announcing that NBC received yet another Professional Management Review (PMR) award. During the Award ceremony held on the 23rd of February 2012, NBC was ranked number four of the top seven good performing companies. NBC was rated by a random national sample of 150 principal offers, chairmen, trustees and senior managers representing retirement funds and large companies. We attribute our selection to NBC’s proven record of consistency and our culture of excellence.
NBC is indeed proud to be counted amongst the recipients of this prestigious award which clearly affirms to all that we are indeed “Leader in people benefits”. Thanks to all NBC employees who through our team and hard work ensure that we continue to receive such acknowledgements.
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NBC moving from strength to strength
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Employee benefits have historically been provided by companies as a means of attracting and retaining good calibre staff. However, it is important that employees understand the benefits which have been provided for them, as well as any choice with regards to contribution levels, risk cover, investments which may be available to them.
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Issue 4 of 2011
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The year 2011 has been a challenging one for the NBC brand. Our achievements as a
company were overshadowed by the passing of our Chairman and founder, Max Maisela.
Before his passing, Bra Max, as he was popularly known by everyone, made the point
that, “if nature were to take its course, the NBC journey must continue”. As a company,
we have taken this message to heart and have redoubled our efforts to provide the best
service possible to our clients.
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Issue 3 of 2011
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We decided to dedicate this edition of Motswedi to our former Chairman and founder, Max Maisela. It is not every day that men of such stature grace our lives. For us at NBC, it was traumatic to deal with the passing of one who made such an indelible mark on our lives that we feel a sense of inadequacy with every effort to honour and celebrate his life.
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Issue 1 of 2011 - Benefits Industry
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The process of migrating funds from an old to a new, different and exciting administration system presents many benefits to our clients and a lot of potential for NBC. Craig Jewell, Divisional Manager of NBC’s Client Accounts Division outlines those benefits. He says: Effective service delivery to all our clients is a focal point and re-energized commitment of NBC business.
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Issue 4 of 2010 - Chairman’s End of Year Note
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The year 2010 has seen many developments, both in the country as well as here at NBC. These developments have tested us as a company but I believe we have come out stronger and wiser.
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Issue 3 of 2010 – Divorce Orders
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The Divorce Act provides that where a non-member spouse has been granted a divorce order that entitles them to share in the pension interest of the member spouse, the divorce order should be forwarded to the administrator of the member spouse’s retirement fund, so that the administrator can endorse or flag the records of the fund relating to the member spouse.
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Issue 2 of 2010 – Unclaimed Benefits
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In this issue of Motswedi, NBC takes an in-depth look at
unclaimed benefits: what they are, the role of trustees in
tracing members/beneficiaries, and the proposed
National/Central Fund that will house unclaimed benefits
of retirement funds. In this article, NBC studies the three
main reasons that cause benefits to become unclaimed.
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Issue 1 of 2010 – Financial Market in 2010
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The banking crisis, followed by news that the United
States was in recession, led to markets around the world
to fall by more than 50% in some cases. From the peak in
June to December 2008, the JSE All Share index followed
the rest of the world equity markets lower and fell –
27.84%.
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Issue 3 of 2009 – Liquidation of Employers
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Typically, liquidation would entail the court ensuring
some level of protection to secured or preferred creditors
of the liquidating employer, often with the consequence
that unsecured creditors of that employer may ultimately
have nothing left to share. Normally, a retirement fund
would fall under the category of unsecured creditors.
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Issue 2 of 2009 – South Africa in a recession
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South Africa is officially in a recession. Figures released by Stats SA in the second quarter of 2009 showed that quarter
on quarter seasonally adjusted annualised growth in Gross Domestic Product (GDP) fell to -6.4% in March 2009 from
-1.8% in December 2008. GDP is a basic measure of an economy's performance. It is the market value of all final goods
and services made within the borders of a nation in a year.
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Issue 1 of 2009 – Pioneering Retirement Fund Solutions
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Trustees are the driving force behind the management and control of retirement funds in South Africa. Recent changes and reforms in the retirement fund legislation and practice set out by the retirement funds regulator have made it compulsory for Trustees to undertake basic and continuing education and training on all aspects of managing a retirement fund.
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Issue 4 of 2009 – Guarding the interests of NBC’s members
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It was a personal vow made to his mother on her
deathbed that triggered his involvement in the market
place where Max Maisela believed that things were not
being dealt with fairly and empowered him to advocate
the necessary changes, particularly in the financial
services industry. His words were: “I will seek justice
and fairness for those on the receiving end.”
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