The National, Tuesday June 30th, 2015
NATIONAL Superannuation Fund and commercial banks’ representatives in Mount Hagen, Western Highlands, met recently to discuss and strengthen ways members can abide by the banks’ processes during withdrawal.
The meeting was attended by Bank South Pacific, ANZ and Westpac branch managers and senior operations staff.
During the meeting, representatives of the commercial banks stated that they would maintain arrangement of opening bank accounts for members who were eligible for withdrawing their superannuation through opening new bank accounts and, in assisting nominated beneficiaries to open bank accounts when claiming deceased members’ funds as well.
The meeting ensured all parties were aware of processes to ensure that those wanting to open accounts had valid identification cards, a standard letter from the fund with clear verification of signatures from officers of the Fund in Mount Hagen.
Members wanting to request for bank statements would involve a K10 fee for both BSP and ANZ while for Westpac will incur a K5 fee as well.
The team agreed on an initial deposit of K20, a screen print of the account could be printed and issued to member as evidence of new account with an in-active account.