Retirement funds are required to provide members with retirement benefits counselling (“RBC”). RBC is not advice but rather providing relevant information so that a member can make an informed decision. It can be provided in person or in writing.

Members of the NMG Umbrella SmartFund typically receive RBC information in written material like the fund’s member booklet, and the booklets that explain the options when leaving the fund.

The decisions you make as you approach retirement are critical and have far reaching implications once you have retired. In 2024, the fund’s trustees arranged for representatives from NMG to contact fund members within two years of normal retirement age to discuss and explain the available options.

To support this conversation, members receive a personalised statement with information about the available annuity options, the value of the fund credit benefit and the expected income after retirement. The benefit counsellor contacts the affected members before sending the statement and offers to meet to discuss the statement. If you are approaching retirement and are contacted by an NMG benefit counsellor, you are encouraged to meet and make use of the available information.