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  • 16 % Interest Rate declared for 2006.
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Overview

The promotion of Superannuation in PNG began in 1981, when the government introduced compulsory employer and employee contributions for public servants. Parliament introduced a Public Officers Superannuation Act, which established a public sector fund, the Public Officers Superannuation Fund (POSF). This was established mainly for state employees and all other government statutory bodies.

The main legislation now governing superannuation in PNG is the Superannuation (General Provisions) Act 2000 created for retirement or other related purposes. All superannuation funds in PNG come under this Act and report to the Central Bank of Papua New Guinea.