National Superannuation Fund

signalling the start of a partnership intended to promote the savings culture to participants within the coffee industry in Papua New Guinea (PNG).

This MoU now enables the country’s leading superannuation provider and the nation’s lead coffee agency to work together to allow more people in the industry to save for retirement.

CIC GM Industry Operations CIC General Manager Industry Operations Steven Tumae welcomed this MoU as an important step to financially empowering coffee farmers in PNG.

Through the Fund’s Membership Discount Program (MDP), Nasfund members can now benefit from a K50 discount on one-way airfares.

PNG Air Chief Commercial Officer Simon C. Pitt said, “Since the easing of restrictions, we have noted an increase in the demand for travel within Papua New Guinea. As a nationally owned airline, it is in our best interest to make air travel more affordable and accessible.

The National Superannuation Fund owns the building (since 1998) for the benefit of its 500,000 members.

NASFUND’s chief executive officer, Ian Tarutia, said: “It’s really a way for us to make this flagship building a statement of the global-quality facilities we can offer tenants right here in Port Moresby. 

“The building will feature new elevators, state-of-the-art air conditioning, new power generators and an uninterrupted power supply to ensure that all of the tenants of the building enjoy state-of-the-art services.”

This 10-year growth has seen K2.13 billion made by the fund which has translated to an average crediting rate to members’ accounts of 11.7 per cent over the same period.

This was revealed today by CEO, Ian Tarutia, during the NASFUND Annual Regional Employer Conference in Port Moresby.

Tarutia revealed to over 200 employer representatives and contributors the growth of the fund.