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Employee Contribution Rate

Employees contribute 6% of their gross salaries and the employer contributes 8.4%, which is based on the employee gross salary and is paid by the employer from its own funds.

Members may if they wish, make additional voluntary contributions from 6% up to a maximum of 15% of their fortnightly gross salary to the Fund to maximize their superannuation savings with the Fund. The employer may also increase its portion from 8.4% to a maximum of 15% if it wishes to do so on behalf of its employees.

The new Superannuation (General Provisions) Act 2002 provides for both employee and employer contributions to be remitted to an Authorized Superannuation (ASF) on regular basis. Employer must remit their employer contributions within 14 days of the end of each month and employee contributions are required within 14 days of date of deduction.

Now employers have a choice of which Superannuation Fund they want to join and remit their contributions to.

No deal with NCDC for 9-mile squatters

No deal with NCDC for 9-mile squatters

Today Nambawan Super Limited (NSL) announced no agreement has been reached with the National Capital District Commission (NCDC) regarding land that would resolve the issue of squatters living on NSL’s 9-mile landholdings.  It is a disappointing outcome for all parties...

State rent arrears to tip over K170 million

State rent arrears to tip over K170 million

Following the PNG Business Council statement regarding the business impact of unpaid bills by the State, today Nambawan Super Limited (NSL) revealed they are owed more than K156million in Government rent, with the bill expected to top K170million by the end of the...