Paul Sayer

Funds are safe, says NSL CEO

Sayer says, despite these, the fund worked hard to mitigate the adverse effects that global and local economic conditions brought on by factors outside NSL’s control.

“NSL employs an investment strategy that aims to diversify our risks by running a balanced investment portfolio, whereby approximately 18% of our investments are deployed offshore, meaning 82% is actually held within the country, local investments.

“This is certainly done to de-risk the fund so that when global or local markets perform poorly, they balance things out.

NSL ready to pay benefits to members

Chief Executive Officer, Paul Sayer, said there are 3500 former public servant members, who have exited the Fund currently have their final benefit available to them.

“Since 2018, Nambawan Super has received regular payments from the State to fund unpaid public sector employer contributions from prior to 2009,” Mr Sayer said.

Former members with very specific circumstances have funds become available after they exit the Fund. These members should call 1801599 or visit the Nambawan Super Branch in their province to determine if their final benefit is available.

‘Employer Boost’ to benefit employees

This was made possible when their Employers signed up for an ‘Employer Boost’ with Nambawan Super, topping up their compulsory 8.4% employer super contributions, with additional contributions of up to 15% for each staff member.

Nambawan Super applauded the gesture by the Employers: Full Link Limited (56 staff), Great Value Limited (19 staff), F6 Services (16 staff), Synergistic Investment Limited (16 staff) and Yang Guang Limited (27 staff); that will help to restore business confidence and staff trajectory towards a comfortable retirement.

Super not a substitute for Social Security

“Superannuation is only for retirement or when you are no longer working – as specified in the Superannuation Laws,” Mr Sayer said.

“In PNG, where there is no pension or welfare, it is really important bread-winners who have supported their families for decades, have reasonable retirement savings to support them when their fortnightly income stops.”

NSL on exiting members from others contributions

CEO, Paul Sayer, said this when asked by a member from the Western Highlands Provincial Government.

During NSL’s employer conference recently, the fund was asked by members on the outstanding employer contributions owed by the state, which is worth over K2 billion.

Jim Oki, the Human Resource Executive Manager with the Western Highlands Provincial Government told NSL that 33 staff will be retired, with 17 confirmed to go in 2018.

However, they want confirmation that all their unfunded employer contributions will be paid before they do so.

NSL announces new CEO

Paul Sayer a leading Australian Superannuation expert has been appointed by the NSL Board following a stringent identification process.

The NSL Board says Sayer was recognized as the best-placed person to lead the K6 billion into the next stage of its development,

In a media conference in Port Moresby, Board Chairman, Anthony Smare, announced the appointment of Sayer in the presence of members and senior NSL staff.