The figure is subject to confirmation by Nambawan Super’s lawyer, Mek Tumul, to the Waigani National Court on the latest outstanding figure and interest component that the state is expected to pay to contributors.
This is good news for about 1,667 retired members of Nambawan Super who have been waiting for the State’s component of their retirement money since 2015.
The order came after the trustee of the superannuation giant, on behalf of the affected former members, filed a case by way of judicial review proceeding in February 2017, after the state defaulted on its payment on 1 December, 2015.
Justice Les Gavara-Nanu ordered that the State had breached its obligation to pay its superannuation component under the Superannuation (General Provisions) Act as well as a mandamus order compelling the State to pay up the money.
Since December 2015, the default payment had increased and the amount owed by the state rose to K110,624,267.42.
Justice Gavara-Nanu said under the law governing superannuation, both the public servants and the State are required to make regular contributions into the superannuation fund that is to be paid out to the members after they retire and exit their membership.