Nasfund

He pointed out that superfunds have been fundamental investors in BSP, which is a source of pride for all those involved.

Sayer mentioned that Nasfund, Nambawan Super, and Comrades Trustee have invested in BSP, which has branches across the Pacific, including Cook Islands, PNG, and other locations. Adding that businesses across PNG are also venturing out into the Pacific, demonstrating a two-way process.

Sayer concluded by emphasizing the benefits of working together as a cooperative, despite different aims and perspectives.

The Nasfund Board approved an interest crediting rate of 4.3 percent for the 2022 financial year during the board meeting held on 9th March, and over K260 million will be allocated into over 650,000 member accounts in the coming days.

At a farewell dinner hosted by the Fund, past and present Board chairmen, directors, staff, colleagues, and family members thanked Mr Tarutia for his services to the organization, the industry, and the country.

Nasfund Board chairwoman, Tamzin Wardley paid tribute to Mr Tarutia for his exceptional leadership of the Fund over his 35 years of service.

Under the agreement, MiBank will develop a member onboarding software that will be used by MiBank agents and Nasfund officers to register citizens.

The Memorandum of Agreement (MOA) is for an initial two-year period and was signed by Nasfund Acting CEO Rajeev Sharma and MiBank CEO Tony Westaway.

Nasfund Acting CEO, Rajeev Sharma believes this partnership is exciting for the Fund, as it leverages MiBank's technology and track record to deliver quality service to Nasfund's Eda Supa members.

“The Nasfund Board at its meeting on 8th December 2022 resolved to promote the current Chief Operating Officer, Rajeev Sharma, to the CEO role from 1st April 2023.

“The Board and its Remuneration & Nominations Committee conducted an exhaustive and high calibre recruitment process that attracted nearly 100 candidates from both international and domestic markets before selecting Sharma.  

“Sharma is a permanent resident of PNG and has been working in the country for over 20 years, eight of these years as Nasfund’s Chief Financial Officer.  

The USAID funded OurFish OurFuture National Inception Workshop for PNG, was held yesterday in Port Moresby officiated by U.S Charge d’Affaires for PNG, Joseph Zadrozny.

He said the implementation approach for the program is unique and that it will use a community-centered approach to ensure maximum impact with the people and communities being the core focus of the program.

Nasfund Chief Executive Officer, Ian Tarutia led the Fund delegation to this event, which brought together organizations from across the Resource & Energy sector in Papua New Guinea.

“The 16^th PNG Mining & Petroleum Investment Conference & Exhibition provided an opportunity to engage once again with industry organizations, most of whom are our contributing employers on behalf of their staff.

The first inning saw Santos Blue Kumuls register 2 - 0. Nasfund hit back with a home run to bring the score to 2 - 1 in the second inning.

It was then smooth sailing for the Blue Kumuls as they kept adding on the tally with batter Ainui Matlaun scoring home runs when it mattered the most. 

Outstanding fielding from Noami Totil and Alois Malori kept Nasfund at bay along with pitching mechanics from Andrew Kobal. Kobal was also awarded the man-of-the-match for his performance.  

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.

The National Superannuation Fund (Nasfund), and Digicel PNG today signed an agreement that now allows Nasfund members to make payments to member superannuation accounts, using the CellMoni platform.

This agreement has come about in response to Nasfund’s desire to make the superannuation contribution process much easier and efficient for its membership.

Given that Digicel’s CellMoni service is being used for various bill payments providers, it was a natural avenue for expansion by Nasfund to improve member contribution safely and conveniently.