Chairman of Nasfund Board, Charles Vee has acknowledged the tremendous support from the members and stakeholders on the occasion of the 20th Anniversary of the National Superannuation Fund Limited.
Mr Vee said since the rebirth as Nasfund, the Fund has continued to perform positively.
“Positive results across membership growth, member savings, net asset value, and more importantly, return to members each year through our annual interest crediting rate,” he said.
“From a Balance Sheet of K300 million in 2002, your Fund has grown to a value that now stands at over K6 billion.
“Similarly, returns to members in the form of interest has also been positive over the last 20 years.
“This is something to celebrate, especially in the face of challenging economic times in recent years. During this time, Your Fund has also led the way in innovations that have improved the member experience,” said Mr Vee.
The Chairman further added that through evolving technology, Nasfund was first to introduce the TextBal service, as well as rolling out our member and employer online platforms – channels that have now become a mainstay of all superannuation providers in Papua New Guinea.
“All this has been made possible through the commitment and determination of our Board, Management and Staff in putting members first, every single day. In celebrating our 20th Anniversary, we also share some experiences from some of our most experienced staff who are at the frontline in serving our members.
“Their stories are one of commitment and dedication, in serving our members.
“As Chairman of the Board of Trustees, I am proud to say that the Fund in the last 20 years has been built on the foundations of honesty, transparency, integrity and accountability, across all levels of this great organization,” said Mr Vee.
The Nasfund Board Chairman also acknowledged the efforts of his predecessors, Hulala Tokome, William Lamur, Sir Mel Togolo, and the Late John Jeffery with all former Board Directors, who have laid the foundations of success that the fund continues to build on.
“All efforts since the reforms of 2002 have ensured that the retirement savings of all our 600,000 plus members are safeguarded, and continue to grow, so that our members have peace of mind of a comfortable retirement.”
On May 9, 2002, the Fund was incorporated as a company by the Companies Registrar, following reforms to the superannuation industry in the early 2000’s through the Superannuation (General Provisions) Act 2000.