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Housing Advance

The trustee has amended the housing scheme guidelines inline with the provisions of the new superannuation legislation and these include;

Housing advances will be paid to contributors providing the house is currently or will be immediately after the purchase /construction at their principal place of residence;
Members can access up to 40% of their total superannuation entitlements;
Mandatory repayments to be made a minimum of 2% of member's ordinary pay, however higher repayments are encouraged;
A member must have contributed for at least 5 years in order to be eligible;
A nominal fee and any statutory document fees will be charged for processing and payment of the advance.

Other than Housing advances, the Trustee is not allowed to lend money from the Fund.

Four methods of assistance are available to a member as housing advances;
Building on Customary Land;

Purchasing a building erected on State land;
Extension to an existing building;
And Improvements or renovations

Before a member can apply for a housing advance he or she must have contributed to the POSF for at least five (5) years. Members are entitled to 40% of their total contributions.



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		Access your Nambawan Super member database here. >> Click here to login Members Online Database Contact us online by sending us an email now. >> Send Email here Email Us 16 % Interest Rate declared for 2006. New Kiosks locations, working along with POST PNG. Access your member database online now. Latest News Housing Advance The trustee has amended the housing scheme guidelines inline with the provisions of the new superannuation legislation and these include; Housing advances will be paid to contributors providing the house is currently or will be immediately after the purchase /construction at their principal place of residence; Members can access up to 40% of their total superannuation entitlements; Mandatory repayments to be made a minimum of 2% of member's ordinary pay, however higher repayments are encouraged; A member must have contributed for at least 5 years in order to be eligible; A nominal fee and any statutory document fees will be charged for processing and payment of the advance. Other than Housing advances, the Trustee is not allowed to lend money from the Fund. Four methods of assistance are available to a member as housing advances; Building on Customary Land; Purchasing a building erected on State land; Extension to an existing building; And Improvements or renovations Before a member can apply for a housing advance he or she must have contributed to the POSF for at least five (5) years. Members are entitled to 40% of their total contributions.