Nambawan Super committed to long-term savings for members, chairman says

NAMBAWAN Super Ltd (NSL) chairman Reg Monagi says the fund remains committed to long-term savings for its members with more initiatives.
He said during an employers’ conference in Port Moresby last month that NSL would upgrade some of its branches as well as build new branches in Daru, Kiunga and Wabag with work set to start this year.
Monagi added that NSL had refined and roll-out its Nambawan Employer Pay system to improve the efficiency of employer remittances.
Along with this, the organisation had also supported superannuation and tax reforms in the country to better protect the members savings.
Monagi encouraged members to remember that superannuation was a long term investment and year-to-year there would always be ups and downs.
“Members, however, should be assured that Nambawan Super has always been PNG’s most consistent fund,” he said.
“As a profit-to-members fund, generating returns for our members is our highest priority and we are proud to have continuously provided these services for the last 60 years, establishing Nambawan Super as the most consistent superannuation fund in PNG.
“Last year, the fund achieved a net surplus of K526 million which resulted in the growth of its net assets to K8.8 billion and a declaration of a 6.5 per cent crediting rate for our more than 214,000 members.
“Another major factor in the fund’s growth can be directly attributed to our employers as they contributed an incredible K935 million on behalf of their staff, our members.”