Retirement Fund Solutions has announced that it has established a staff trust, the RFS Staff Trust, which effectively holds 17,5% ownership of the company.

Speaking about the Trust, RFS Managing Director Tilman Friedrich said the company has a policy of empowerment from within. "We believe in recognising, rewarding and empowering the individuals who make our company a success, and that is actually everyone in the team" he said.

'With the RFS Staff Trust, we recognise each and every staff member who has assumed the responsibility for making the company the success it is," Friedrich continued.

He pointed out that RFS has built its business primarily on the qualities of its staff. He noted that the company enjoys a low staff turnover and that all staff members are highly experienced. Friedrich said  that, in addition to numerous formal qualifications, the company has a policy of ongoing internal training to keep staff abreast of changes in the dynamic Namibian pension fund environment.

"We have a policy of recognising skills and personal development with professional responsibility. The Trust is an appropriate manner to recognise that our team takes ownership," Friedrich continued.

Asked about the impact of the Trust on formerly disadvantaged Namibians, Friedrich said formerly disadvantaged beneficiaries amounted to 15% of the 17,5% of shares allocated. He said this share was expected to grow to 17,5% and 20% respectively during the course of the year.

The allocation, Friedrich said, brought the total number of formerly disadvantaged beneficiaries of ownership in RFS to 36,25% at the Trust's inception.