Nasfund

Ramu Agri Industries Limited secured the Chairwoman’s Category A Award, while Category B and C went to Marie Stopes and Trends PNG Limited respectively. The event was held to acknowledge employers who faithfully adhered to Nasfund’s superannuation procedures.

These three (3) distinguished companies were among nine (9) other awardees across five categories, and an additional 22 runners-up for both first and second place, all recognized during the 5th Annual Employer Awards event hosted by Nasfund on Friday, August 18th, 2023.

As part of this renewed collaboration, Nasfund members will continue to enjoy an exclusive 20 percent discount on normal room rates and restaurant food plans at the Sanctuary Hotel Resort and Spa.

Nasfund’s Chief Executive Officer, Rajeev Sharma said the ongoing partnership between Nasfund and Sanctuary Hotel Resort and Spa exemplifies a commitment to providing unmatched benefits to Nasfund members.

Through this collaboration between the National Superannuation Fund Ltd (Nasfund) and Pacific International Hospital (PIH), more than 50 staff of Nasfund based in both Port Moresby and the branch operations, who joined in via Zoom attended the session on the 14th of July 2023.

Dr Mathias Sapuri, an author and publisher of more than 60 books with 35 years of clinical experience conducted a comprehensive health talk, that ensured all staff members are equipped with vital knowledge about cancer prevention, detection, and early intervention.

From May 8th 2023, the Fund is introducing the payment of superannuation on unpaid maternity for its female staff – a first for the industry, and for the country.

According to Nasfund CEO Rajeev Sharma, Nasfund is promoting gender equality and bridging the gap that exists with the disparities faced by women at the point of retirement.

He pointed out that superfunds have been fundamental investors in BSP, which is a source of pride for all those involved.

Sayer mentioned that Nasfund, Nambawan Super, and Comrades Trustee have invested in BSP, which has branches across the Pacific, including Cook Islands, PNG, and other locations. Adding that businesses across PNG are also venturing out into the Pacific, demonstrating a two-way process.

Sayer concluded by emphasizing the benefits of working together as a cooperative, despite different aims and perspectives.

The Nasfund Board approved an interest crediting rate of 4.3 percent for the 2022 financial year during the board meeting held on 9th March, and over K260 million will be allocated into over 650,000 member accounts in the coming days.

At a farewell dinner hosted by the Fund, past and present Board chairmen, directors, staff, colleagues, and family members thanked Mr Tarutia for his services to the organization, the industry, and the country.

Nasfund Board chairwoman, Tamzin Wardley paid tribute to Mr Tarutia for his exceptional leadership of the Fund over his 35 years of service.

Under the agreement, MiBank will develop a member onboarding software that will be used by MiBank agents and Nasfund officers to register citizens.

The Memorandum of Agreement (MOA) is for an initial two-year period and was signed by Nasfund Acting CEO Rajeev Sharma and MiBank CEO Tony Westaway.

Nasfund Acting CEO, Rajeev Sharma believes this partnership is exciting for the Fund, as it leverages MiBank's technology and track record to deliver quality service to Nasfund's Eda Supa members.

“The Nasfund Board at its meeting on 8th December 2022 resolved to promote the current Chief Operating Officer, Rajeev Sharma, to the CEO role from 1st April 2023.

“The Board and its Remuneration & Nominations Committee conducted an exhaustive and high calibre recruitment process that attracted nearly 100 candidates from both international and domestic markets before selecting Sharma.  

“Sharma is a permanent resident of PNG and has been working in the country for over 20 years, eight of these years as Nasfund’s Chief Financial Officer.  

The USAID funded OurFish OurFuture National Inception Workshop for PNG, was held yesterday in Port Moresby officiated by U.S Charge d’Affaires for PNG, Joseph Zadrozny.

He said the implementation approach for the program is unique and that it will use a community-centered approach to ensure maximum impact with the people and communities being the core focus of the program.