Partners to enhance superannuation awareness

The National Superannuation Fund (Nafsund) Limited signed a Memorandum of Understanding (MoU) with the Centre for Excellence in Financial Inclusion (CEFI) on June 21, 2024.

This MoU is a three-year partnership between Nasfund and CEFI that enables both organizations to work together in enhancing superannuation awareness with CEFI’s Financial Inclusion Activities.

CEFI’s collaboration with Nasfund is important as this will advance superannuation awareness within CEFI’s Financial Literacy Training Program and assist CEFI also in incorporating superannuation into school curriculum activities plus supporting Provincial Government Engagement Programs.

The main activities during the three-year partnership will include;

  • Advancing superannuation awareness within CEFI’s Financial Literacy Training Program by jointly producing 3-5 minutes’ financial literacy and superannuation videos for awareness purposes to promote financial inclusion in Papua New Guinea
  • Assist CEFI with the integration of superannuation into Financial Education for schools Curriculum Project through the Department of Education, Curriculum Development Division.
  • And support CEFI by participating in the Provincial Government Engagement Program involving conducting awareness behind the rationale of superannuation to the Provincial Steering Committee Members and collaboratively organizing Savings for Young Mind campaigns via superannuation across designated schools in the provinces.

CEFI’s Executive Director, Saliya Ranasinghe said the partnership is important as it highlights their commitment to expand financial inclusion awareness in Papua New Guinea.

He elaborated that CEFI through this partnership with Nasfund will now be able to offer Papua New Guineans financial literacy and superannuation awareness through the activities outlined in the MoU.

“Financial literacy education plays a very important role as it brings new knowledge and changes people’s attitude.” “We hope that this initiative will change the lives of Papua New Guineans to have a better understanding of superannuation and the importance of savings,” Mr. Ranasinghe said.

Nasfund CEO Rajeev Sharma said Nasfund is proud to announce a series of strategic initiatives aimed at enhancing superannuation education and financial literacy among Papua New Guineans.

As part of its commitment to fostering a culture of savings and retirement planning, Nasfund is rolling out three key programs: The School Superannuation Program, the Superannuation Literacy Program, and the long-standing Shopfloor Program.”

For over 20 years, Nasfund has been actively engaging with its members and contributing employers through the Shopfloor Program. This program involves regular visits to workplaces, creating awareness about superannuation and Nasfund’s range of products and services.

The continuous engagement through the Shopfloor Program underlines Nasfund’s dedication to ensuring that its members are well-informed about their retirement options, and that information is crucial.

By educating its members today, Nasfund aims to ensure they are "Ready for Tomorrow" with a well-secured retirement. 

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