Nasfund Fellow Member Benefits In Addition To Interest - Hi friends CURLY THINK, In the article that you read this time with the title Nasfund Fellow Member Benefits In Addition To Interest, We have prepared this article well for you to read and retrieve information from it. hopefully fill the posts Article NASFUND, Article NCSL, Article Savings, we write this you can understand. Alright, happy reading.

Title : Nasfund Fellow Member Benefits In Addition To Interest
link : Nasfund Fellow Member Benefits In Addition To Interest

Nasfund Fellow Member Benefits In Addition To Interest

The magic of chemical compound interest.

NASFUND members should conduct maintain payoff of the produce goodness of chemical compound involvement piece contributing towards their retirement savings. 

Source: NASFUND Facebook | 23rd March 2019

Chief finance officer, Rajeev Sharma said that, the produce goodness of chemical compound involvement tin hold upward seen when NASFUND fellow member does non remove funds for the long term. Compound involvement volition farther grow member's residuum if the  fellow member increases an additional amount from the normal mandated contributions of the fellow member or employer contributions.

In an event of a fellow member who has contributed for thirty years.

The instance below shows the produce goodness of increasing one’s contribution through voluntary contribution of K50 as well as K150 amongst an assumed average furnish of involvement of 5% for the menses of thirty years. 

Additional Contribution (K) 

10yrs    20yrs       30yrs          

K50      K7736      K20, 339   K40, 866

K150   K23,207    K61,007    K122,579

A fellow member who increases an additional contribution of K50 for the adjacent thirty years volition conduct maintain a total additional residuum of K40,866, out of which he would conduct maintain contributed solely K 18,000 as well as residuum of Kina 22,866 would come upward from interest. 

However, if the NASFUND fellow member increment an additional of K150 for the adjacent thirty years, the fellow member volition conduct maintain K122, 579 every bit his total balance.

“This is the magic of chemical compound interest”, he said. 

“This volition hap if the fellow member does non comport on the funds piece withal contributing as well as the savings volition grow through involvement that is beingness credited yesteryear the FUND annually”. 

NASFUND has paid K1.4 billion every bit crediting amount to it’s members inwards the concluding vi years

Thus the article Nasfund Fellow Member Benefits In Addition To Interest

That's all the article Nasfund Fellow Member Benefits In Addition To Interest this time, hopefully can benefit you all. okay, see you in another article posting.

You are now reading the article Nasfund Fellow Member Benefits In Addition To Interest with the link address https://curlythink.blogspot.com/2017/04/nasfund-fellow-member-benefits-in.html

Share this post