Inter-generational scheme for your children

Nambawan Super plans to introduce an intergenerational superannuation scheme where members’ contributions can be used to start off their children in future.

NSL Board Chairman, Anthony Smare, announced the potential service which they hope to roll out in the future.

Smare said this during the announcement of Paul Sayer as NSL Chief Executive Officer.

“Instead of you just contributing for yourself and taking your money and go, some of that money is actually giving your children a start and some of their money is given to your grandchildren.

“By the time that your grandchild might be starting, they might be starting with something that their grandfather left behind for them that might be K100,000 when they start working. And that’s the potential,” he said.

Smare said since the new board took over four years ago, NSL has doubled its asset worth from K3.5 billion to K6 billion at growth rate of 9 percent per annum.

He said from the way NSL is growing, it will become a K20 billion fund in 10 years.

Cedric Patjole