Superfund urging employers to use new plan

THE Nambawan Super Ltd is encouraging employers to use the “employer boost” as part of their recovery package for employees.
The initiative urged the employer to contribute above the compulsory 8.4 per cent contribution for employees.
Chief executive officer, Paul Sayer said the tough conditions created by the global pandemic had forced employers to think about “how we manage people we care about who have become essential members of our teams or corporate families”.
According to the company’s newsletter, Nambawan Super congratulated eight employers who signed up for the employer boost scheme.
They were Full Link Ltd, Great Value Ltd, F6 Services, Synergistic Investment Ltd, Shorna Holding Ltd, Office of Insurance Commission, Speed Cast PNG and Yang Guang Ltd.
They joined four others providing an employer boost – PNG Power Ltd, Gaming Control Board, National Information Communication Authority and Nambawan Super.
Meanwhile, Nambawan Super in its virtual employer conference last month asked employers to prepare their teams for lower than usual returns on their savings.
Sayer told members that while the Covid-19 would impact returns, super was a long-term investment and there would be ups and downs from year to year.
“When the markets are low, it is often a good time to invest so you can get the benefits of market rebounds.,” he said.
“So save more in voluntary contributions.
“This year could deliver high returns short term when the market stabilises and increases.”
Nambawan Super Ltd currently has over 200,000 members in the private and public sectors.