PMR. Africa Business Excellence Awards
Congratulations and well done to the NMG Retirement Administration Business Unit who were awarded the PMR.africa Business Excellence Award (Silver).
The purpose of the awards is to enhance competitiveness and to enhance and reward excellence in the industry and to set a benchmark.
The PMR.frica completed its annual national survey on Pension Fund Administrators, Consultants, Product Providers and Insurers in South Africa. A number of respondents were asked to rate the Pension Fund Administrators, Consultants, Product Providers and Insurers they deal with a range of 20 criteria’s, namely
- Accessibility to appropriate administrative personnel
- Accuracy of member benefit statements
- Administration/IT systems
- Communication of benefit options
- Communication of general issues and problems
- Efficiency in dealing with member’s changes in benefit options
- Efficiency/accuracy of benefit payments
- Efficiency/changes of membership
- Knowledge of staff
- Power of staff to make decisions and solve problems
- Quality of problem resolutions
- Reputation of administrator (i.e. perception of the company’s brand; integrity; CSI)
- Simplicity and clarity of member benefit statements
- Speed of problem solving
- Speed/ease of claim settlements
- Timeousness and accuracy of pension fund account
- Value added initiatives
- Value for money
- Website accessibility for members and employers
The results are split into the following categories:
- Large Pension Fund Administrators and Consultants (administering more than 150 000 members)
- Large Pension Fund Administrators and Product Providers: Insurers (administering more than 150 000 members)
- Medium-sized Pension Fund Administrators and Consultants (administering between
20 000 and 150 000 members)
*The ratings are based on the perceptions of the respondents.
PMR.africa’s editorial philosophy stems from Sir Isaac Newton’s statement:“It is only by standing on the shoulders of GIANTS that I have seen further” , and NMG Benefits has proven that in our partnerships with giants like PMR.africa we managed to showcase our excellence.