Retirement Funds Institute of Namibia (RFIN) is a company incorporated in terms of Section 21 of the Companies Act No 28 of 2004, which is aimed at legitimately representing, promoting and advancing the interests of retirement funds industry in Namibia. RFIN represents the retirement funds industry in negotiations with government authorities on matters that affects the retirement funds, its members and all stakeholders. RFIN was established in 1997 as an umbrella association. It is beneficial to be a member of the association to give contribution to the industry in a combined and well-structured manner. Member Funds have accessibility to service providers and vice versa.
Information is well dispersed and members have access thereto. Training and support of members is offered. It is an international standard for an industry that fosters the benefit of the economy to be cohesive and organised by contributing to the socio-economic development of the country and the region.
Core benefits to our members are:
- leverage on time saving as RFIN engages the industry on members behalf;
- cost saving as members will not pay for consultation made on their behalf by RFIN;
- high good practice and market conduct standards; and the reliability of the retirement funds systems;
- capacity building and skills improvement.
These core benefits are enabled through:
- up to date information sharing;
- fast and efficient engagement with relevant authorities and stakeholders;
- high good practices and market conduct standards ensured through code of conduct, investment
strategies, corporate governance, member education and communication;
- reduction of industry complaints;
- improved capacity of trustees – resulting in modern and first-class retirement funds administration, in turn ensuring reliability and safety of retirement savings.
The national benefits of developing and maintaining the retirement funds industry include:
- benefit from well-researched information for strategy formulation;
- increased investment opportunities for the financial markets; and
- sustainable national development and socio-economic benefits;
- stimulation of the overall national economy.
The advantages of RFIN are that it:
- serves as a collective voice for the retirement funds industry;
- offers a service and facilitation centre for potential partners and members;
- offers multimodal services through visual, print, electronic, industry presentations and public speaking;
- coordinates support to ensure that all interests are represented by establishing committees and bodies, and
- facilitates the provision of a well-administered retirement funds industry.