The Namibia Building Workers Pension Fund has called on all professionals in the construction sector to join the NBWPF and register themselves and their employees with the fund.
The NBWPF, established on 1 May 1990, is an approved fund by NAMFISA and is committed to contribute towards the social protection of employees in the construction sector. This includes the provision of retirement and disability benefits as well as benefits in the event of death. With a mission to provide a reliable and sustainable pension scheme, the fund aims to empower construction industry employees to plan for a financially secure future.
At a breakfast meeting held in the capital today, Enwich Kazondu, principal officer of the NBWPF says: “We are reaching out to all professionals in the construction sector to join the NBWPF and register themselves and their employees with the fund. The NBWPF has been created as an umbrella fund for the construction sector and we really understand the industry. With the recent rule amendments we now can cater for all employers and employees in Namibia’s construction sector”.
Guests who attended the business breakfast include contractors that are members of the CIF, as well as contractors that are active in the construction sector but are not members of the CIF as of yet, in order to inform them about the mandatory requirement for contractors to participate in a pension fund and to register their employees and to gain a comprehensive understanding of the benefits and services offered by the NBWPF.
Other attendees included construction industry professionals such as architects, quantity surveyors as well as engineers, who have been invited jointly by the NBWPF and their respective statutory bodies and member organisations such as the Engineering Council of Namibia and the Namibia Council for Architects and Quantity Surveyors, as well as the Association of Consulting Engineers, Engineering Professions Association of Namibia, the Institute of Namibian Quantity Surveyors, the Namibian Institute of Architects, the Namibian Society of Engineers, and the Namibian Renewable Energy Industry Association.
Whilst the provision of a pension fund is mandatory for workers on construction sites, the aim is to encourage employers to include all their employees and that employers of related industry professions – architects, engineers and quantity surveyors – make also provision of retirement benefits for themselves and their employees.
There are currently deliberations on a national level about the introduction of a national pension fund, which is likely to be managed by the Namibian government. There is a degree of urgency by the authorities, to ensure optimal social protection for Namibian citizen. This is in line with the guidelines and standards on social security systems, including pension funds, set by the ILO Convention 102. The construction sector is the only sector in Namibia that has mandatory stipulations for the provision of a pension fund.
Gordon Goeieman, chairperson of the NBWPF trustees, and member of the executive committee of the Construction Industries Federation of Namibia (CIF): “We are extremely proud that we are ahead of the game and that our sector is one of the few, if not the only sector where the provision of a pension fund is mandatory.
“But let’s face it, the mandatory requirement will eventually extend to sectors beyond the construction industry. Taking into consideration the current global as well as our local economic environment, it becomes obvious that everyone needs to make provisions for retirement, starting as soon as possible.
“We are therefore reaching out to the professionals in our sector, in order to join the contractors and make provision for themselves and their employees so that there are adequate financial reserves at the point of retirement.”
Bärbel Kirchner, chief executive officer says: “We would encourage everyone in the construction sector to become part of a pension fund, preferably the NBWPF as per the Collective Agreement. I think, if we as a sector embrace this, other sectors might follow. Then there would possibly not be a requirement for mandatory national pension fund.”