Nambawan Super

NSL Partners With PIH

This follows the renewal of a Discount Partnership Agreement by the Nambawan Super CEO Paul Sayer and Pacific International Hospital signed during the recent Nambawan Super Annual Employer Conference at the Stanley Hotel in Port Moresby.

Nambawan Super CEO Paul Sayer said Members would now save 20 percent on the cost of laboratory, radiology and inpatient services when they present their Nambawan Super Member identification cards, at PIH.

Results Pleasing For Nambawan Super

Nambawan Super Chairman, Reg Monagi said at the recent Annual Employer Conference 2022.

He said, “In 2021, we saw great improvements in returns from many of our investments as the global and local markets started recovering from the tough economic climates brought on by the Pandemic,” he said.

“Last year, the Fund achieved a net surplus of K526 million which resulted in the growth of its net assets to K8.8 billion and a declaration of a 6.5 percent crediting rate for our more than 214,000 Nambawan Super Members.

“Gone Fishing with Retirement Savings Account”

With his RSA, Hau’ofa Sailasa travels often from Alotau to Misima Island where he hails from, on fishing expeditions, enjoying also the company of his relatives.

“I enjoy fishing, and now I can continue to do this in retirement. You can see the benefits of saving more while you work and opening an RSA with Nambawan Super when you retire. You don’t have to be tied down with little to no finance.”

NSL nets K526m profit

It has earned a net profit of K526 million that has been distributed to more than 208,000 members through applying a crediting rate of 6.5 percent to their accounts.

Dame Meg said the Nambawan Super Limited (NSL) board and management had worked tirelessly to overcome the challenges of the coronavirus pandemic to deliver good returns for their members and they were pleased with the overall performance of the Fund in 2021.

Super Fund Engages Graduates

Chief Executive Officer, Paul Sayer, said graduates have commenced placements in member-facing teams and will undergo a 12-month career development.

He said: “Graduates are from a range of universities and have studied diverse disciplines, including Accounting, Banking and Finance, Business and Information Technology.

“Through the program, graduates gain experience in several business units through coordinated job rotations.

Nambawan Super warns members

The warning to Members from the country’s largest super fund with a portfolio of more than K8 billion comes with the ever-increasing risk of fraud in tough times.

Nambawan Super Chief Executive Officer, Paul Sayer said Members’ lifetime superannuation savings can become an attractive target in times like these.

He raised this concern after receiving several reports of members being asked to pay fees from those posing as third parties to help them with their applications.

Nambawan offers discount savings for members

The Discount Partners include retail and wholesale product and service providers ranging from health, haircare, homeware and hardware, to a whole lot more.

Nambawan Super CEO Paul Sayer said he was pleased that more than 200,000 members could lower their shopping costs at more locations this year, with more new Discount Partners.

Sayer added that 10% discount also offered in the hospitality industry including:

Nambawan Super signs MOU with Lands

 The MOU is the latest step forward following years of Court proceedings that have directed NSL’s application for the lease for Portion 2158 to be determined by the National Land Board.

The MOU sets the framework that is expected to encourage a wider partnership in the future that will include relevant Government Agencies, to assist in delivering possible affordable housing solutions at 9 Mile.

A project Steering Committee including representatives of NSL, State Agencies and NCDC will be formed to assist in streamlining the development.

NSL appoints Project Manager

Over the next 3-months, the Project Manager will be working with all stakeholders, NCDC, the State, and settlers to find a win-win solution.

Nambawan Super has fought prolonged legal and bureaucratic battles to secure the site and during this time many people have been confused and misled into settling on the land.

Nambawan Super announced K89m Profit

The result has allowed NLS to declare a 1% interest to be credited to member accounts.

Nambawan Super Limited Board Chairman, Reg Monagi, said the extraordinary difficult economic conditions, worsened by the COVID-19 global pandemic, heavily impacted values and returns for many of the funds key investments in the PNG economy.

Monagi said while the 2020 result will be disappointing for members the primary cause was the reduced value of the some of the funds well-established PNG Investments.