Eligibility for Full Payment
Members are eligible for full benefit payout after they reach 55 years of age or have provided at least 25 years of service. These are the eligibility rules as per the Superannuation Act. For a member to apply for full payout they must have already formally ceased employment.
Retirement on Medical Grounds
If a member is deemed unfit for duty due to a medical condition, the member can retire on medical grounds. Members who retire on medical grounds are eligible for a full payout even if they have not yet reached 55 years of age or have not provided at least 25 years of service. Members intending to retire on medical grounds are urged to contact Nambawan Super first before applying.
Left Employment and Still Not Eligible?
If a member has left employment but has not met the eligibility requirements (55 years of age or worked at least 25 years) for a full exit they will have to wait for 12 months from the time they exited employment before they can formally apply for their benefits.
Unemployment Benefits
If a member has not found employment after three months of leaving their job, they can apply for unemployment benefits (UB). UB payment is the equivalent of 50% of a member’s monthly wage at the time when they left employment.
Members will have to apply each month for UB payments until after the 12 months when they become eligible to receive the remaining funds, provided that they are still unemployed.
Documents required to lodge when applying for payout
Normal Benefit and Unemployment Benefit
- Completed Separation Authority Form
- Exit Letter from Employer
- 2x Recent Payslips
- 6 months bank statement for salary/wages account.
- Statutory Declaration Form specifying the method of payment and employment status.
- Copy of one currently valid identification card (e.g.: driver’s licence, work ID or passport)
Members applying for UB are required to submit the above documents for the first payment only. After that they are only required to submit the following:
- State Declaration Form stating they are still unemployed.
- Copy of recent bank statement.
- Copy of Identification card
Unfunded State Share Payments
Public Servants who have exited and wish to claim unfunded state payments, (once funds are available), are required to provide the following:
- State Declaration Form stating that they would like to receive their unfunded contribution.
- Copy of recent bank statement.
- Copy of one currently valid Identification card (e.g.: driver’s licence, work ID or passport)
Medical Exit
Members who are deemed unfit for duty can be retired on medical grounds by their employer. Members who exit on medical grounds are not required to wait 12 months even if they have not met the requirements for normal exits (i.e.: 55 years of age or 25 years of service). The following documents will need to be submitted:
- Completed Separation Authority Form
- Exit Letter for Employer confirming retirement based on medical grounds
- Two Medical Reports from two hospitals/Clinic
- 2x Recent Payslips
- 6 months bank statement of your salary/wage account.
- State Declaration Form specifying the method of payment and employment status.
- Copy of one currently valid identification card (e.g.: driver’s licence, work ID or passport)
Death Benefit
When applying on behalf of a deceased member, beneficiaries must ensure the following documentation is submitted:
- Completed Separation Authority form
- Demise Letter from Employer
- 2x Recent Payslips
- Copy of deceased member’s Identification Card (e.g.: driver’s licence, work ID or passport)
- State Declaration Form from beneficiaries declaring their identity, date of birth and their relationship to the deceased member.
- Nominated Beneficiaries over 18 years of age must have an active bank account. Provide copies of latest bank statement with school or work ID. For Nominated Beneficiaries below 18 years of age, Funds will be transferred to Retirement Savings Account (RSA).
Note: All applications are to be submitted in person by the member (or in the case of deceased members) by their nominated beneficiaries and not through a third party or proxy. Applications should be submitted to the nearest local branch to where you are currently residing.
In the event beneficiaries of deceased members reside in different locations, they can submit their documents to their nearest branch, and will not be required to all be physically present in the one location.
For more information or queries visit your nearest Nambawan Super Branch or contact our Call Centre Team on 180 1599 and email CallCentre@nambawansuper.com.pg
