Superfund launches new product

 Nambawan Super Ltd has launched a new product that will give its customers in the informal sector the opportunity to save.

The superfund launched its newest product, Choice Super, in Port Moresby yesterday.

Chief executive Garry Tunstall said the product was developed to facilitate Voluntary Superannuation Services targeting the informal sector market.

He said Choice Super will enable locals to have a superannuation account that will cater for their savings as long as they are registered as members.

He said the product will enable ordinary Papua New Guineans who were not part of the public and private sector workforce to save.

Employees of companies with workers below 15 people, self-employed individuals, small business operators, local PMV operators, farmers, fishermen, landowners in mining and LNG projects, village court magistrates and villages can be part of Choice Super.

To become a member of Choice Super, a minimum contribution of K20 can be paid into your Choice Super Account anytime within one month. Customers may wish to do a lump sum deposit at any time to grow your savings quicker. 

Payment is made by individuals through alternative arrangements by direct deposit or cheque payment  at any of the Nambawan Super Branch.