Making a Difference
As a Member of Nambawan Super you are entitled to boost your super account by making Voluntary Contributions.
The best way to save for a secure retirement, your super grows in a tax-friendly environment over the long term. And unlike normal bank accounts or term deposits, there are restrictions on withdrawing money from your super account, which helps you maintain a disciplined savings habit.
How do you benefit?
You can increase your retirement benefit in a tax-friendly way. This means you are likely to achieve a better return through super than if you invested directly into the same assets.
Also, since 100% of employee’s contributions are allowed for housing purposes, the more personal contributions you have made, the more you may be able to withdraw if you are eligible for a Housing Advance.
Listed in the table below are the mandatory and allowable Voluntary Contributions based on the provisions of the Internal Revenue Commission Tax Act of PNG.