Comrade Trustee Services Limited (CTSL) will be proposing a ‘Medical Advance’ provision in the Superannuation Act review to be undertaken later this year.
CTSL CEO, Charlie Gilichibi, said the this was one specific feedback from its contributing members which they will be proposing to the Task Force Review.
He said under the current legislation a contributing member has to be declared not fit to hold down a job. This will allow them to access their retirement savings for treatment.
“So as part of the Task Force review that will be very specific feedback that CTSL will provide, that’s one of them. So you can still be at work, come forward if you are medically unfit, if you need to go overseas and get treatment or private facilities here in PNG, access part of your superannuation savings and go and treat yourself. And not only that, probably we’ll look into that for spouses and children,” said Gilichibi.
Under the proposed change, contributing members will remain employed but still access some of their retirement savings.
“That’s a conversation we will have with the industry and try and create provision within the Super Act that you can be eligible to come and get a medical advance and sort yourself out, but then you start repaying the fund so, up to a certain stage you fully offset, repay the amount that is advanced to you,” he said.
CTSL is currently conducting a Member Engagement drive to inform and make aware to contributing members some of the reforms undertaken within CTSL.
It began this week with visits to the Force Support Battalion in Murray Barracks, the 1st Royal Pacific Islands Regiments at Taurama, and the Basilik Naval Base at Konedobu.
CTSL will be conducting similar member engagements at the Engineering Battalion in Lae, 2nd Royal Pacific Islands Regiment in Wewak and the Lomburm Naval Base in Manus.