The Nambawan Super Limited (NSL) Trustee Board would like to congratulate the PNG Chiefs on the recent launch of its Logo and Jersey. The Board is further aware of discussion in the public domain requesting clarification around the nature and specifics of the commercial partnership with the PNG Chiefs, and welcomes the opportunity to provide that clarification, consistent with its commitment to transparency.

NSL is now the Official Superannuation Partner for the PNG Chiefs. This is a commercial partnership with concrete deliverables. It is a deliberate allocation of our operational expenditure that carries a specific and measurable commercial purpose.

The Board’s strategy has two clear objectives: to keep the Fund’s operating costs firmly under control, and to grow and broaden its membership. Together with better Member services, these will deliver a tangible improvement in long-term outcomes for Members, now and into the future. This expenditure represents a calculated, strategic move designed to expand our national footprint and bring direct value back to the membership of the Fund.

Public servants and the State are, and will remain, the foundation of Nambawan Super. The Board values its long-standing partnership with the Government, including the continuing joint work on the State’s outstanding superannuation obligations. As a prudent Trustee, the Board must also ensure that the Fund’s long-term strength does not depend on any single employer group. Growing membership among private sector employers, small and medium enterprises and self-employed Papua New Guineans broadens the Fund’s contribution base, strengthens its resilience for all Members, and supports the national goal of extending retirement savings to more of our people.

As a Trustee, the Board is entrusted with strategic oversight over the retirement savings of hardworking Papua New Guineans, and the NSL Board along with the Management take this responsibility extremely seriously. 

Recent public commentary has tended to view this commercial expenditure in isolation, overlooking the fact that it is simply part of the organisation’s normal operating budget. The Board remains focused on driving cost efficiency across the Fund. This expenditure is funded from within the existing operating budget, through strategic reallocation of resources, and is designed to target activities that deliver better tangible benefits and outcomes for Members.

The Board is confident that the reach and profile of the PNG Chiefs players will help encourage more Members and young citizens to engage with Nambawan Super about financial literacy. With more Members engaging and increasing financial literacy there is an improvement in the savings culture of our Members, and a boost in the account value for the Members of the Fund. This is a real long-term benefit to individual Members and strengthens the nation’s savings culture.

As a significant financial institution in PNG the Board takes Governance seriously. The Board welcomes scrutiny of how Members’ money is used. This decision was made by the Board through its normal governance processes, on its own assessment of Members’ best interests, and in line with its obligations to the Bank of Papua New Guinea as regulator. Governance is about ensuring every single aspect of the business meets the standards the community expects and remains in strict compliance with the law. The Board will review the partnership’s results against agreed membership and engagement measures and report on them to Members. Operating in the best interest of the Members of the Fund is at the heart of everything we do.

In summary, this commercial expenditure is aimed at increasing and broadening the total membership of the Fund as part of a pre-existing, strategic expense allocation within the existing operating budget, rather than an additional expense that operates in isolation to the rest of the business. By expanding the membership base and increasing the total pool of investments, this spending is designed to drive down operational costs both per individual Member and per Kina invested. This delivers an improved financial outcome for the Members of the Fund, and a broader membership base makes the Fund stronger for public servants and private sector Members alike. This initiative will directly boost engagement across the entire membership, focusing on improving financial literacy and maximising long-term superannuation outcomes.