The Botswana Public Officers Pension Fund (“the Fund”) has appointed NMG Benefits, a South African based advisory company, to administrate its assets under management of P83-billion (US$7.6-billion). NMG Benefits will operate in a joint venture with the Fund, which will hold 51% and NMG Benefits will hold the remaining 49% and co-manage the administration of the 156,000-member fund. The outsourcing of the fund administration was a requirement by the Botswana regulators that all pension funds be managed by an independent administrator unconnected with the fund itself.
NMG Benefits is a specialist employee benefits advisory firm that has solutions to meet the needs of employers, medical schemes, retirement funds, employees and retirees. The services provided by the firm include retirement fund consulting and administration, healthcare consulting, actuarial services, financial planning and investment consulting. NMG Benefits is a registered financial services provider in South Africa and is part of the NMG Group that has subsidiaries such as the NMG Capital, NMG Consulting and NMB Botswana.