Inactive contributors are still Nasfund members, says CEO

NASFUND Ltd chief executive officer Ian Tarutia says fund members who are classified as inactive are still members so long as they have not taken out their money.
Tarutia said this during the recent Tuna forum in Port Moresby when responding to questions in regards to why most employees in the fisheries sector had inactive status in their membership segment.
“For all intents and purposes, as long as they have a credit balance and have not taken their funds out than they still for part of our membership,” Tarutia said.
He said that the fisheries sector had different demographics and profiling in terms of the employment types of employees which affected their participation with the fund which made them inactive.
“They are a different demographic or profiling of the fisheries sector certainly from a Nasfund perspective.
“You will have those that are full time, who might be working in the administration and those that are short term, or seasonal, that may come and go which causes them to be in the inactive segment of our membership.”
Tarutia explained that inactive membership refers to members who had an active credit balance with Nasfund but had not made any actual transactions in the last three months.
“This is can be when the member has not done a contribution or withdrawal.
“Often it covers those members that may be in between employment or lack employment and have not made any transactions.”