Govt still owes NSL K170 million: Smare

By SHIRLEY MAULUDU
NAMBAWAN Super Ltd (NSL) is hoping that the state will pay the outstanding K170 million it owes in retirement savings for members by the end of this year.
Chairman Anthony Smare said NSL was also in discussion with the state on the matter.
“We’ve got two lawsuits against the state. We won a default judgment in one case, I believe, which is for a much smaller amount. But we also have a much bigger one, which we are getting directions from the courts to compel the state to pay.
“While that is happening, we continue to maintain discussions with the state about alternative arrangements to solve those payments.”
The state currently owes NSL K170 million for its 3800 members who had left the public service since December 2015.
“We are hopeful that we will get a resolution this year,” Smaré
Smare said NSL also had to deal with the challenge of working its way through the difficult economic times.
“For me, it’s probably the number one challenge for us, apart from navigating the difficult economy and ensuring that we are still generate returns for our other 170,000 members,” he said.
“We are still generating those returns but fighting to get the money that the state owes the 3800 members. So we are pushing on two fronts.”
He said they had been assured by the government that a solution would be found.
“I expect to be talking at some stage in the next two weeks or so with the new treasurer to identify some other ways on which we can try to rectify it so that the members who had exited can receive their money.”