Papua New Guinea does not have a mandated retirement programs like that in America or Australia – Social Security system in America and Doll system in Australia. Therefore, Superannuation Funds such as Nambawan Super Limited (NSL) plays an important role in taking care of the golden years of life (retirement). Thus, to ensure that individual members reach their gold years with financial security and dignity.

The aim of this module is to equip and empower relevant and accurate information on the operations, products and services available to the members of NSL. As a result, individuals can make informed decisions regarding employee and employer contributions, voluntary contributions, retirement savings accounts, and access to other services such as NSL discount programs.

Learning Objectives

By the end of this module, a participant will be able to:

  • Define Superannuation
  • Explain the importance of superannuation in retirement planning
  • Know how the superannuation system works
  • Differentiate the types of superannuation contributions and benefits
  • Build retirement income through superannuation savings and investments
  • Calculate and forecast the future value of an individual’s superannuation contribution  Explain the IRC Tax applications to superannuation contributions and withdrawals
Why Superannuation Funds are good for the PNG Economy

Why Superannuation Funds are good for the PNG Economy

Support economic stability The purpose of superannuation funds is to encourage Members to save now so they can enjoy a dignified and comfortable retirement in the future. Every year, Nambawan Super injects a large sum of money into the PNG economy through benefit...

NSL’s prediction for the PNG economy for 2023

NSL’s prediction for the PNG economy for 2023

The PNG Economy is not exempt from the tough global economic conditions as it is primarily an import-dependent Country. As such Nambawan Super Limited (NSL) expects the Country to continue experiencing high levels of inflation which will affect individual households...