Nambawan Super Limited (NSL) has announced strong financial results for the year ending 31 December 2025, with the Fund’s current Net Asset Value now totalling K13 billion (US$3.51 billion), reflecting continued growth despite a challenging global and domestic economic environment.
The results were approved by the Nambawan Super Trustee Board and released today to Members and stakeholders.
Chairman of Nambawan Super Richard Sinamoi said the Fund remained focused on its core responsibility of protecting and growing the retirement savings of its Members despite ongoing economic pressures, including global inflation, geopolitical tensions, and local business challenges such as law and order issues, access to foreign currency and unreliable utilities.
“Nambawan Super has continued to deliver strong outcomes for our Members through disciplined investment management, prudent governance and the dedication of our Board, Management and staff,” Sinamoi said.
Strong growth and investment performance
Based on the performance in 2025, Nambawan Super announced an annual interest crediting rate of 12%, up from 10.5% in 2024.
The Membership increased by 4.1 percent to 245,514 Members, with more than 9,600 new Members joining during 2025.
Supporting Papua New Guinea’s economy
Nambawan Super continues to play a major role in supporting national economic development.
During 2025:
• K5.6 billion (US$1.51 billion) was invested in Treasury Bills supporting the Government’s fiscal program
• K9.7 billion (US$2.62 billion) remained invested within Papua New Guinea’s domestic economy
• K3.3 billion (US$891 million) was invested offshore to diversify risk and strengthen returns
• The Fund paid K88 million (US$23.8 million) in taxes and K3.3 million (US$891,000) in regulatory levies
• K958 million (US$259 million) flowed directly into the economy through Member benefit payments and operations
These contributions demonstrate the Fund’s role not only as one of PNG’s largest institutional investors but also as a key partner in supporting economic stability and growth.
Government obligations remain outstanding
Nambawan Super acknowledged and thanked the Government for demonstrating commitment towards meeting its obligations. The Fund also highlighted ongoing concerns about outstanding State obligations and the impact it has on superannuation Members.
In 2025, Nambawan Super received a payment of K52 million (US$14 million) towards Unfunded Liabilities and K50 million (US$13.5 million) towards Rental Arrears earlier this year.
However, approximately K2 billion (US$540 million) remains outstanding, in Unfunded Liabilities, including K204 million (US$55 million) owed to retired Members awaiting payment. In addition, more than K80 million (US$21.6 million) in rental arrears remains unpaid for properties occupied by Government departments.
The Chairman said that NSL remains committed to working collaboratively with the State to ensure that all financial obligations are met. Timely settlement of these arrears and consistency in future payments are crucial to maintaining the Fund’s income streams and ensuring that Members receive appropriate returns on their investments.
“As stewards of our Members’ retirement savings, we continue to engage with the State and urge the Government to provide a clear and accelerated roadmap for repayment,” he added.
New CEO joins Nambawan Super
The announcement also marked the first financial results presentation by newly appointed Chief Executive Officer Lachlan Baird, who brings more than 30 years of experience in financial services and superannuation leadership.
Baird said the Fund’s strong performance was driven by growth in domestic and international equities, improved yields from State securities, and favourable foreign exchange movements.
“Nambawan Super maintains a balanced investment strategy with approximately 75 percent of investments held locally and 25 percent offshore,” he said. “This diversified approach allows us to grow Members’ funds while managing risk over the long term.”
Delivering value to Members
In 2025, the Fund received K933 million (US$252 million) in Member contributions and paid out K716 million (US$193 million) in Member benefits.
Key benefit payments included:
• K410 million (US$111 million) in retirement benefits paid to 4,595 Members
• K115 million (US$31 million) in housing advances assisting 5,536 Members
• K72 million (US$19 million) in Retirement Savings Account withdrawals
• K40 million (US$10.8 million) paid to beneficiaries of deceased Members
• K23 million (US$6.2 million) in unemployment benefits
Apart from investment returns, the other key part of NSL’s mandate is to provide the best possible service to Members.
The Fund reported strong Member service performance, including 89 percent Member satisfaction and an improved Net Promoter Score of 39, alongside growing use of digital services such as the Mobile App and ‘Supertext’ balance checks.
Baird emphasised that, “Educating and empowering Members remains a key focus area for Nambawan Super in 2026 and onwards. A total of 8,700 Members around the country attended the Financial Literacy Training in 2025, through the Fund’s Education program.”
“Financial Literacy will continue to be a priority as part of our mandate to help Members achieve their best retirement outcomes.”
Looking ahead
Despite ongoing global and domestic uncertainties, including Papua New Guinea’s recent Financial Action Task Force grey listing, the Fund emphasised that Member savings remain safe and secure.
In closing, Sinamoi stated, “Nambawan Super remains financially strong and fully compliant with both local and international standards.”
“Our governance, regulatory oversight and investment frameworks are aligned with international best practice, and Members can be confident their retirement savings are protected," he added.
As the operating environment continues to evolve, Sinamoi said that the Board is working closely with Management to review and revise the Fund’s three-year Strategic Plan in 2026, centred on Visionary Leadership, Investment Excellence, Operational Effectiveness, and Reputational Confidence.
"This approach ensures the Fund remains resilient, accountable, and well positioned to deliver strong outcomes for Members in the years ahead," he said.
The Fund will provide further updates and outlook discussions at its upcoming Employer Conference in April 2026.
