Nasfund enhances e-Withdrawals process

The National Superannuation Fund Ltd (Nasfund) is announcing improved measures for e-withdrawals to ensure member security.

Launched in 2023 as part of the Fund’s e-Branch, the e-Withdrawals service allows for members to lodge applications using the email platform from anywhere in the world. In a bid to enhance and better serve our members, Nasfund's Member & Employer Services (MES) Division has reviewed and updated the e-withdrawal processes for members' benefit and security.

Effective as of this notice, Nasfund will enforce the following:

Categorization of Withdrawal Applications – Withdrawal requests will only be accepted for specific reasons, such as unemployment, housing, emigration, or for members residing overseas. Other types of withdrawal requests must be made in person at the nearest Nasfund branch.

Updated Personal Bio Data – Members must ensure their personal information as stated in the Member Data Update Form (MDUF) are up to date in Nasfund’s system during their employment tenure. This will assist them during the unemployment period when they decide to withdraw their funds.

Email Verification – The email address used for withdrawal requests must match the one in our system and on the member's Member Data Update Form (MDUF). If it is different, members will need to visit a branch to submit their withdrawal request.

Anne Wilson, Chief Officer Member & Employer Services, says, "These changes are important to keep member transactions secured.”

“By refining our e-withdrawal processes, we aim to provide smoother transactions while protecting member interests."

Loop Author