eNewsletter March - April 2014


eNewsletter March - April 2014
2014 Issue 3 & 4
Keeping members informed
THE annual Employer conference has been an ongoing success to the FUND’s objective in
This year’s conferences that took place in Port Moresby, Lae, Mt Hagen and Kokopo in
interest to be paid into members accounts in March and is attended mostly my payroll of
This year’s attendance in Port Moresby saw the highest of 280 employer representatives
In a survey conducted during the conference outside of Port Moresby; 72% employers
said that the conference was a very informative session, 16% commended the presentations
done by the Management and 11% said that they were happy to see that the Management
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z23% are eager to know more about NCSL (Processes of becoming a member and
z21% of Employers want to be updated on the FUNDs’ existing Products and Ser'9:
z14% want to understand the Calculation of Tax/ Superannuation Act on important
< [email protected]
Employers raised concerns for improvements in service delivery includes;
Need bigger members chamber/ Long ques daily/Lack of immediate responsO9!"R!"<?'
The FUND would like to thank all the employers who attended the conferences and for taking their time to provide feedback for the team to see what our mem
Members in Manus Province
PICTURED from Left - Right: Lorengau Town Mayor, Ruth Mandrakamo and General Manager of
Monday 26th of May marked another
milestone in NASFUND’s historic operations when it opened its 15th Branch
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the Town Mayor Mrs Ruth Mandrakamo and the General Manager of Nasfund Contributors Savings and Loans
new era in the FUND’s mission to increase access to Superannuation ser' J G
G ]") Peter Poiou encouraged the public
and business houses to fully utilise the
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testament of the services provided by
the FUND, sharing his experience of
building a three bedroom house in his
Page 2
village from his retirement funds and
enabling him to start small businesses
His opening remarks were supported
by Mayor Mandrakamo who said in her
speech that it was a privilege to have
a Super Fund servicing the privates
sector, and that local business men
a positive outcome for the people and
Both guests and the public praised
the FUND for listening to the voice of
the people by bringing services that
would promote a savings culture, especially with the increasing development of businesses within the town
General Manager for Nasfund Contributors Savings and Loans Limited,
the NASFUND Board and Management
said that the objective of opening the
branch was to bring the FUND’s services closer to the people of Manus,
ensuring that they enjoy the same
products and services available in oth"
He said that NASFUND has embarked
on a 5 Year Strategic Plan to guide the
future direction and development of
This plan was formulated to build on
the Fund’s strengths and successes,
whilst learning from lessons of the
+_enced by external factors, be they political, economic, social or technologi
to benefit from new branch
# J ' ' superannuation services in PNG and
its mission of safeguarding growth
and the retirement income of members by optimizing growth and mini`
* money to set up branches around
" 3 dent that the people of Manus and
the business houses there will support the operations of the branch to
justify the investment and continuity
of the Branch’s operation for many
“The fund endeavours to provide
a return to our members over and
above the Consumer Price Index and
has lived up to this expectation with
good interest crediting over the past
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supported by NASFUND Contributors Savings & Loan Society who paid
members an interest crediting rate of
tribute to both NASFUND and NCSL
and is an excellent result when you
compare the returns provided by
He said that the macro economic
conditions for PNG look good with
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growth in GDP next year and we are
we need to be cautious and spend
wisely on the funds to be generat W people, who are mostly in the rural
areas, while assuring an improved
standard of living for our future gen
# " on Tuesday 27th of May saw 400
members stream into the branch for
balance enquiries, withdrawal ap) G3*) ! 3 number of businesses also declared
The opening of the Branch put a
big smile on the faces of members
present who thanked the FUND for
bringing its services to their home
Page 3
Membership Discount Program - Benefit from your NASFUND ID
Page 4
Stretim tok!
Facebook/Media Updates
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NASFUND would like to advise members that the
requirements and conditions that are in place are to
Processes are in place to make sure proper identi'
parties to avoid inconveniences for the member in
NASFUND would like to advise members that the
processes and regulations have been set by the
V J € 9VJ€< regulators of all Financial Institutions and is adhered
to by other Financial Institutions and Superfunds in
The article also questions sponsoring of K30,000 of
the IBS Debate competition and its Tertiary Institu
NASFUND through its corporate responsibility duties
continues to support effective programs to develop
FUND has always been passionate about supporting community groups and is an advocate evident
through community groups that it houses such as;
BAHA, Coalition for Change and Buk bilong Pikinini
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Page 5
e B
Lae Branch Feature
Meet your Lae Branch Team
Fact File :
LAE city is known to be the hub of commercial
: ' |~{ ") buzzing hub for the staff at the branch to work
around the clock in making sure member’s applications and other service delivery standards
One of the challenges faced by the team has
been the increasing number of members and
the increasing number of applications due to
Michael Matmilo who heads the team has
' due to winding down of LNG projects and Con is now the teams effort to educate members
of withdrawal processes as some frustrated
members misunderstand that there are guidelines and processes to follow to get their retire
“Most members still have the mentality that
the FUND is like the bank and can withdraw
their money as soon as they are unemployed”,
by mostly females and is proud to see his staff
“It is sad to see few members threaten our
female colleagues when their applications are
queried or waiting approval from the head of
“I believe in Gender Equality and respect our
women folk and would like to encourage members to do the same as it has happened to see
some members threatening and using foul lan)
Although there are challenges, the team still
maintains a professional approach and there
are many good members who have thanked
the team through the services provided by the
their retirement funds, take out loans for businesses and other little stories that determine
the team to maintain good relationship with
+ " 9Q]G < who has also served the FUND for over ten
years, their wealth of experience has been a
Page 6
Michael Matmilo
Morobe Province
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When duty calls
Role: Manages the
branch, oversees all
branch operations and
ensures branch meets
its key performance
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Delilah Naio
Michael Matmillo to manage the branch and ensure
:(')Jgat, Elsie Lucas, Melinda
Ensure all member enquiries
are dealt with at the counter,
receive and screen applications lodged for approval to
Miribian Etiric ensures that
all employer contributions
are remitted on time and
for updating of members
accounts and administra
foundation to the other staff to continue to
provide the service that members in the Prov
FUND is working with the team to expand its
Ensure all NCSL applications and enquiries
Margaret takes up role as Mt Hagen officer in Charge
SHE is just a month old into her new
role as the FUND’s Hagen Branch Of G )
although a challenging and tough
road ahead, Margaret is determined
to make sure members in Hagen and
neighboring provinces access servic'
Margaret Kuli has extensive experience in business Management from
administration to project management which includes logistical operations in the IT Industry and Sales and
Margaret said that the Mt Hagen
branch portfolio covers the whole
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Southern Highlands Provinces, Geographically it is massive and will be
+')rate efforts, I am determined to drive
the FUND’s mission and make sure
members of these provinces get the
She said that most of her work has
been about people and to be given
the opportunity to head the Mt Hagen Branch is to achieve the best out
“ I am most passionate about seeing a Happy Customer! Be it a Company, individual or staff, if the person
shakes my hand and walks away with
a smile, I know that I have accom-
plished something and it leaves a lasting impression of service, dedication,
“ I have crossed parts with many individuals and some of whom I have
However, I am content in the knowledge that at least I have played my
part in having helped or assisted a
young Papua New Guinean man or
woman realize their potential to take
to their places as future leaders in
their chosen paths for the betterment
of this great nation - then I know in
NASFUND head office relocates to Konedbou
CEO’s Office
Warwick Vele (GM)
Seno Wekina (Legal)
313 1827
320 1935
320 1734
GM - Finance and Investment
Andrew McGrath
3201 174
Communication Centre
Doriga Soge
Sonia Aria
Theresa Maki
Beatrice Manua
Rhoda Borakon
Dilly Tarua
3203 886
Manager - Investment
Charles Lee
Ikanau Matingau
3131 823
320 36626
3131 895 Siri Koae (Mngr)
3131 883
3131 897
3131 915
3131 804
Email: [email protected]
Manager - Finance
Dickson Aopi (Mgr)
Employer Services
Michael Pokanau
3131 826
3131 869
Pia Kupma
3131 860
Daniel Vagi
313 1941
3131 837
Anapu Anapu
3131 841
Business Development & Marketing
Steven Mase
Leumi Luli
320 3994
3131 831
Branch Support Network
Steven Gerega
3131 911
Media and Communication Officer
Raela Wari
3131 930
Human Capital
Manager - HR
Ceslie Ila
313 1928
Human Resource Officer
Kevin Gao
313 1886
IT Team Leader
Johanna Vavana 320 3942
3131 829
For all enquiries please call
our Communication Centre
Team as your first contact.
Page 7
Member Information - What should you know about your Super?
What is Superannuation?
Compulsory Savings for RETIRMENT - ‘Old Age’
When does an employee qualify to contribute?
After 3 months continous employment from date
Regardless of being on; casual/part time, probation or permanent status.
Employees are responsible to follow up on commencing of superannuation deductions.
Employees have the right to demand back date of
contributions if not effected upon qualifying.
Maintaining “ONE” Membership Account
Superannuation guidelines disallows members to
have multiple accounts
- members must continue using same membership number when changing jobs/employment.
To merge multiple membership accounts, requests must
be referred to [email protected]
What can a member access from NASFUND
whilst being an active contributor?
Housing Advance Scheme ONLY
zActive Contributor for 5 years or more.
zHousing eligibility is 100% members component of contributors excluding Employer &
Interests portions.
zMinimum eligibility is K1,000.
zPurchase of principle place of residence.
zBuild on State or Customary land (customary
land - given right by land owners).
zEquity for home loan with licensed financial
institutions (commercial banks, NCSL and etc,)
zMember required to replenish/restore advance
taken at minimum rate of 2%.
OPTION: NCSL established for;
zSchool fees - Education Savings Account.
zExtra Cash for Christmas - Christmas Savings
zPersonal Loans - General Savings Account.
with low interest repayment rate of 1 %.
When can a member access entitlements?
Permanent Disability
Page 8
Are there other OPTIONS available to leave my Funds to
grow interest?
You can TRANSFER your funds to EDA SUPA to continue
Voluntary Contributions.
For RETIREES - Transfer to RSA for pension payment.
Simply not Withdrawing your funds from NASFUND that
can grow through annual interest added.
COMPULSORY Contribution Rates
Nasfund Savings and Loans Society Limited
Society assists school with Fun Run t’shirts
NASFUND Contributors Savings & Loan Soci"*9G3*<Š{{#…
T-shirts to Coronation Primary School in Port
NCSL successfully bid for these T-shirts
during an auction hosted by the PNG Sports
Federation to raise funds for PNG’s participation in the upcoming Commonwealth Games
in Glasgow, Scotland
Coronation Community School has over
at the school, accepted the T-shirts on behalf
He thanked NCSL for the generous sponsorship, saying that, it is great to have a good
corporate organization like NCSL supporting
The T-shirts will enable students to participate in the annual Fun Run event scheduled
The presentation took place at the School
grounds, where the NCSL General Manager
3 " W
“NCSL is pleased to be involved in such a
community initiative to assist raise funds for
the PNG Team to the Commonwealth Games,
enabling students at Coronation Primary
School to wear the shirts as ambassadors of
NCSL and showing our support towards the
K&)))*+** 2&2&)21
Page 9

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