National Bank of Malawi (NBM) Pension Administration Limited has announced a 34.5 percent bonus for its members for 2024, which is above 32 percent annual headline inflation.
This was announced on Friday during a stakeholders’ engagement session in Lilongwe.
The NBM Pension Administration Limited Chief Executive Officer William Mabulekese described the feat as impressive.
“The NBM Pension Fund achieved an investment income of 34.5 percent which we allocated to members to their total accumulated benefits as at 31 December 2024.
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“We were telling them that this is a decent performance against average annual inflation of Malawi of 32 percent so there is a real return,” Mabulekese said.
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He said the pension fund is currently at K120 billion with 180 employers across the country.
Meanwhile, NBM Capital Markets Limited, sister company for NBM Pension Administration Limited said amid market volatility, the business remains strategic.
NBM Capital Markets Limited Development Manager Nenauthe Nkoloma said the firm has been strategic in its investment of the pension funds, hence the growth.
“We also actively managed the investments to make sure that our clients go well off and at the moment we have had better performance on the market and we are able to give highest rates of bonus to our clients at the end of the year,” Nkoloma said.
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One of the participants of the seminar, AHL Group Pension Fund Principal Officer John Masanjala, described the seminar as insightful.
“We have learnt quite a lot. This is a very important meeting and we expect NBM pension administration to conduct such meetings now and again so that they can please us on various issues pertaining to the pension fund but also on how efficiently we can manage the fund,” Masanjala said.
The annual event aimed at highlighting key pension developments in the just ended year 2024, promoting efficiencies in pension administration and assuring clients of competitive sustainable investing amid economic uncertainty.
During the forum, Clinical Psychologist and Mental Health awareness specialist Chiwoza Bandawe also spoke on planning retirement.
