Membership

At the end of 2007, Nambawan Super Ltd reached K2 billion mark in total assets, indicating 40% growth and a new record level for the fund.
Also, Nambawan Super received K250 million from the Government of PNG to settle part of its Unfunded Liability from proceeds available from the state's unbudgeted budget surplus.
New Kiosks locations, working along with POST PNG.

Latest News

Contributions

The total current membership of the fund is 90,183 as at 30 June, 2007. A total of 172 organisations/authorities are currently contributing to the Fund. The Fund anticipates that there will be an increase in the organisations joining the Fund in line with the new Superannuation Legislation. Employers have a choice of which Superannuation Fund they want to remit their contributions to. Nambawan Super continues to welcome new employees wanting to take advantage of this option.

Effective from January 2003, contributions to the Fund are required in respect of all employees whether casual, permanent, attached or unattached after 3 months of continuous employments.

In the past, under the previous legislation, public sector employees' contributions were sent to Nambawan Super while the employer contributions were forwarded direct to the Department of Finance. Under the new Superannuation (General Provisions) Act 2000; both employee and employer contributions are to be remitted to Nambawan Super.

All employers are to take note that failure to remit contributions to the Fund, there are tough penalties, which are now in force and can be applied against defaulting authorities/ departments. Failure to comply with these requirements is an offence, which could result in substantial fines and jail terms.



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		Membership
		Access your Nambawan Super member database here. >> Click here to login Members Online Database Contact us online by sending us an email now. >> Send Email here Email Us At the end of 2007, Nambawan Super Ltd reached K2 billion mark in total assets, indicating 40% growth and a new record level for the fund. Also, Nambawan Super received K250 million from the Government of PNG to settle part of its Unfunded Liability from proceeds available from the state's unbudgeted budget surplus. New Kiosks locations, working along with POST PNG. Latest News Contributions The total current membership of the fund is 90,183 as at 30 June, 2007. A total of 172 organisations/authorities are currently contributing to the Fund. The Fund anticipates that there will be an increase in the organisations joining the Fund in line with the new Superannuation Legislation. Employers have a choice of which Superannuation Fund they want to remit their contributions to. Nambawan Super continues to welcome new employees wanting to take advantage of this option. Effective from January 2003, contributions to the Fund are required in respect of all employees whether casual, permanent, attached or unattached after 3 months of continuous employments. In the past, under the previous legislation, public sector employees' contributions were sent to Nambawan Super while the employer contributions were forwarded direct to the Department of Finance. Under the new Superannuation (General Provisions) Act 2000; both employee and employer contributions are to be remitted to Nambawan Super. All employers are to take note that failure to remit contributions to the Fund, there are tough penalties, which are now in force and can be applied against defaulting authorities/ departments. Failure to comply with these requirements is an offence, which could result in substantial fines and jail terms.