Members to access benefits through Poro card account

Business

NATIONAL Superannuation Fund (Nasfund) members will now have the option to access their unemployment benefits and housing advances through a Poro card account offered by the Nasfund Contributors Savings and Loans (NCSL).
Nasfund chief executive officer Ian Tarutia said during the signing of agreements between NCSL and Nasfund that in addition to what other mainstream banks were offering, NCSL would now offer these services to Nasfund members.
This will make it easier for the members and removes any red tape and ensure a three day turnaround time when it comes to processing unemployment benefits and housing advances.
“This will enhance the service we provide to members but specifically giving the members the option with our savings and loans society, NCSL and linked to the Poro account,” Tarutia said.
“So basically, all our members operate bank accounts in which their salaries are processed through.
“As superannuation is concerned, when they apply for what we call section 90 withdrawals, whether it’s a housing advance or unemployment benefits and so forth, we are now giving them the option of using NCSL as an account facility for them.”
NCSL chief executive officer Vari Lahui said from the time a member nominated NCSL as the destination for withdrawal of funds they would make sure that they processed the application quickly as part of the arrangement under this collaboration.
“It’s to make sure that we have a straight through processing.
“One of the benefits of NCSL is that we provide good returns of 5.5 per cent and when the members do open accounts with NCSL, they would be able to have that benefit,” Lahui said.

6 comments

  • Good that NASFUND has made possible for its members / contrbuiters to access funds for Housing Advances and other needs.

    However, what about Nambawan Super?

  • That’s good news for NCSL members accessing Poro Cards.
    Can the authorities in charge of poro cards immediately sort out poro cards for members in Tabubil. It’s taking almost a year and to date we have not received our poro cards as yet. When enquiring at the counter for poro card, the usual answer is ” not yet we’ll advise you” so when will be the cards available?

  • Can nasfund housing advance be access through ncsl loan system by means of vehicle loan just the same way as housing advances are processed as most contributers live in settlements and do not have proper land titles as a mandatory requirement for housing advance??

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