Contributors happy with fund payout

NASFUND Contributors Savings & Loans Society’s (NCSL) performance in 2012 was outstanding and stirred comments from the public. NCSL posted a net profit of K4.8 million and will pay 10% credit to members. Here, The National reporter GYNNIE KERO compiles views from the public.

Tonny McHarets, Bulolo, Morobe: I am a Nambawan Supa contributor but am very happy that some of my Nasfund contributor friends will receive the 10% credit. I wish Nambawan Supa does the same to us.

Inosi Matbob, New Ireland: I am grateful to Nasfund’s management for the 10% credit which all Nasfund members will receive. This shows that the superannuation has made sound investments during the 2012 financial year operations. I believe under the management of board chairman Mel Togolo and chief executive officer Ian Tarutia, Nasfund members will continue to experience good turnouts as reflected in the 2012 turnover.

Jenny Balam, Port Moresby: I am delighted that my savings company is paying dividends at such a percentage rate. Congratulations to the staff and management of Nasfund for their prudent investment decision and I look forward to remain a Nasfund member.

Linda Seki, Popondetta, Northern: Just considering an 8% increase from the previous 2% definitely tells me that Nasfund has been prosperous this year and, as a prospective member, I am keen to join Nasfund as I know that my superannuation funds will be in safe hands thus more superannuation funds for me in the future.

Ama Sowati, Western: So far so good. Congratulations Nasfund. Now, I can confidently say that the board and management are delivering results to contributors’ satisfaction. Conversely, it is a concern that members’ contributions are updated fortnightly rather than three months so we know our savings.

Ume Aihi, Kairuku, Central: I am a non-active member of Nasfund but the 10% reflects Nasfund’s seriousness in growing its investments. I pulled out of Nasfund because I was not sure if my deductions went straight to the fund.

Philip John, Kerema, Gulf: I am happy and want to thank Nasfund for the 10% credit. As a simple shop assistant, the 8% credit increase compared to the 2% in 2011 means a lot to me for my long term savings.

Peter Bina, Bogia, Madang: Nasfund collects, keeps and invests workers’ compulsory savings so naturally we expect it to make a reasonable return annually.  As a contributing member of the fund, I am personally thankful to the Nasfund management for the big profit in the 2012 financial year.  I hear there was a time when the fund was able to make a 30% interest payment to members account.  Those kinds of figures would have been great but I guess that’s the nature of business, finance and investment. However, there is a dark spot on the history of Nasfund when savings were written down by up to 50% which I’m sure that will never happen again. I ask though: Is that the best Nasfund could do in 2012?  

Dianah Lolo, Port Moresby: The 10% credit, an increase by 8% from 2011 is very much a statement that Nasfund is serious about its investments and ensures that members’ contributions are worthy. It was a bad year for when the 2% interest was paid to members for 2011 but I knew Nasfund was going to bounce back from all this given the heavy investments it made in 2010 and 2011. It gives us the confidence that the board and management are certainly delivering results. I believe this year won’t be any different and maybe we might get another increase in interest paid to members.