NBM Pensions Administration Limited has declared a 34.5 percent bonus to its members, a feat the company said is above the annual inflation rate of 32 percent.
Speaking during a pension seminar on Friday in Lilongwe held jointly with NBM Capital Markets Limited, NBM Pensions Administration Limited chief executive officer William Mabulekesi described the performance as decent.
“It is a decent performance against the average annual inflation rate of 32 percent, so there is a good return on investment,” he said.
Mabulekesi said the Pensions Act of 2023 empowers administrators to provide pension withdrawal arrangements such that when one retires, they have two options of pension withdrawal, either using the life insurance company or the same pension administrator.
NBM Capital Markets Limited business development manager Nenauthe Nkoloma said the growth of the pension fund highlighted the company’s sound investment avenue that guarantees better returns to investors.
She said: “We have made it a deliberate point and arrangement to make sure that our clients get to know what happens to their funds.
“When the pension funds are handled administratively by our sister company, NBM Pensions, we work hand in hand with them by making sure that we grow those pension funds.”
AHL Group Pension Funds principal officer John Masanjala described the 34.5 percent return as positive to members, saying it shows that their pension is growing to guarantee a better package.
NBM Pension Administration Fund has in excess of K120 billion with about 180 members.
