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Latest News Joining Nambawan Super The Nambawan Super is a Superannuation Fund that provides an opportunity for people working in the public service (public officers), in Papua New Guinea to ensure their own future financial security. Superannuation funds exists in the public and private sectors all over the world. They are generally-termed contributory pensions schemes and are designed to encourage savings. Employers participate too by subsidising contributions made by employees. Your funds assists you in providing for the future security of yourself and your family. When, for instance, you retire, or if you become permanently disabled, you can be confident you will still receive an income. When you die, your family will be looked after. Rights to commencement of Membership From 1st January 2003 contributions to the Fund are required in respect of all employees whether casual, permanently attached or unattached after 3 months of employment. Previously this period was 12 months and excluded casual and probationary staff. Now contributions are required in respect of all employees. Who says that I have to join the fund? It is a requirement of an Act of Parliament, the Superannuation (General Provisions) Act 2000, to ensure a form of future security for members of the public service as well as those in the private sector. |
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