Public Servants Superanuation

“There is a variety of options that the State has, they can sign a loan agreement with us where we lend them money (to pay existing members) and they give us treasure bills, and the other option is that they can give us state assets,” Smare told NSL members in Port Moresby yesterday.

He added that, because of the current economic conditions of the country, NSL board understands the government’s monetary situation and it’s in constant dialogue to settle the outstanding contributions. 

The National Government as the employer of all public servants still owes the superfund K63million of unpaid employer contributions.    

According to the CEO, the National Government only paid K75 million of the outstanding balance this year.  

“We will be able to pay the members when we receive the money, the reality is we haven’t received all the money that we are owed,” Tunstall told members during its members conference today.