‘Employers responsible for deduction’

ALL deductions purposely for superannuation must be remitted to the fund by employers, according to Nasfund.
Nasfund chief officer for member services Anne Wilson said as of last December, there were 489 defaulting employers.
“The key issues relating to contributions, firstly is defaulting employers, these employers deducted contributions from employees’ salaries and have not remitted to the fund,” she said.
“As a responsible employer, all deductions purposely for superannuation must be remitted to the fund, each fortnight or monthly, an employer who fails to remit the funds will be penalised.
“We understand the current economic environment and we urge the employers to be on a payment plan.”
Wilson made the remarks during the 2021 online employer conference held yesterday in Port Moresby.
She said another key issue was unallocated contributions.
“By last December, unallocated contributions amounted to K44 million,” she said.
“Employers registered to the employer portal are encouraged to use the portal, to upload your own contribution files once you
have remitted the contribution payment, always make sure that your contributions are fully allocated.”