The National Government owes Nambawan Super Limited (NSL) a staggering K2.07 billion in unpaid employer contributions for its members.
The total owing covers a period of 17 years, from 1991 to 2008.
And the first to suffer are retiring members.
The NSL board decided in December last year not to pay out any retiring members until the government pays its component to their retirement savings.
The number of Papua New Guineans affected by this decision is still being determined.
Retirees will only be paid their personal fortnightly contribution minus the employer’s contribution.
A statement from the NSL today said: “the board and management are continuing their dialogue with the National Government regarding the unfunded superannuation liability of K2.07 billion.”
It also said; “achieving an amicable solution with the National Government in the interest of impacted Nambawan Super members is a top priority for the super fund in 2016.”