Nasfund CEO: Invest in superannuation

 NASFUND chief executive Ian Tarutia says superannuation is an excellent investment vehicle to build up substantial savings over a long period time for PNG workers. 

Tarutia stressed this when wrapping up the last leg of Nasfund’s regional conferences in Kokopo.

It aimed to provide firsthand information to its members of the fund’s 2012 performance; operational issues; Nasfund Contributors Savings and Loans Society Ltd (NCSL) performance and the outlook for 2013.

For some participants, information of additional services provided by the fund under the umbrella of the NCSL presented a success story in itself.  

Richard Ipa from ENBDC said he learnt a lot about the interest earned from his superannuation and the benefits of increasing his contribution.

“It is encouraging to know that my fund has been looked after very well. I have just decided after this conference to increase my contribution,” Ipa said.

“I want to be well prepared  before I retire.”

Tarutia reminded members to have reasonable expectations of return on investments and crediting rates. 

“The investment cycle will have good years and not so good years. However, it is the fund’s objective to provide a consistent positive crediting rate over time.” 

He said that even with low interest rates, savings would still grow over an extended period of time through the compound effect and a dedication to investments that provided long term secure returns in line with the fund’s risk management strategy.

The regional conferences were held in Port Moresby, Lae, Mt Hagen and recently in Kokopo.