Abel meets Nambawan super

Acting Prime Minister and Treasurer Charles Abel has met with Nambawan Superannuation’s management to resolve outstanding contributions the State owes to its members.
Abel said a recent National Court decision on the liability to Nambawan Superannuation Fund was part of the debt that was accrued before 2009 from unfunded State superannuation contributions for public servants.
“The Government has been paying all fortnightly contributions since then and gradually paying down the inherited debt through budget appropriations such as the K150 million in this year’s budget,” he said.
In a meeting with Nambawan Super chief executive officer Paul Sayer and management, a resolution was reached to clear all the entitlements for exiting public servants up to the end of last year.
Abel said the State would work with NSL to ensure its obligations in making payments to public servants were met so that those who had served the country for many years could enjoy their retirement with dignity. “I want to thank the management and board of Nambawan Super who have been doing a tremendous job and especially our public servants for their patience,” Abel said.
Nambawan Super Limited (NSL) last week welcomed a recent decision by the National Court (January 12, 2018) regarding to settle outstanding contributions owed by the Government to long-serving public servants who ceased service since December 2015.
Superfund’s chairman Anthony Smare had requested that the State met its obligations as set by the court. Smare said: “It should be recognised that even though Nambawan Super has had the judgment in its favour, unfortunately members will have to continue to wait until proceeds are received from the State.
“However, Nambawan Super will work to ensure that the State complies with the National Court’s decision.
“It is disappointing that the State has clearly not met its obligations to pay the unfunded components of exiting employees upon the members’ exit, thus compelling Nambawan Super to take such court actions to protect the interests of the affected members. 204 members have been waiting since December 2015, with many passing away or suffering hardships including evictions from their accommodation while awaiting for this finalised payment.
The number of members impacted continues to grow each day as more long-serving public servants retire and it has now grown to impact 4908 members who are entitled to more than K211 million plus interest earnings.”