Growers Can Now Save For Retirement
With Papua New Guinea’s leading provider, Nasfund, smallholder growers who provide Oil Palm to New Britain Palm now have the chance to save for retirement.
In accordance with the Fund’s Eda Supa product, an initial 700 smallholders have now signed up for these superannuation contributions under the arrangement - which was facilitated by NBPOL.
To celebrate this initiative, a ceremony was held last Friday, November 13, 2020, in Kimbe, West New Britain. In attendance were Nasfund representatives, NBPOL, smallholder growers, and the provincial government which saw the first payment of smallholder superannuation contributions.
The initial contributions of K100,000 were presented to Nasfund, by NBPOPL.
Nasfund Chief Officer Member Services, Anne Wilson, expressed her gratitude to NBPOL. “This strategic partnership with NBPOL now enables our smallholder growers to have peace of mind that their hard work will reap rewards when they retire, with superannuation savings now being contributed to Papua New Guinea’s leading superannuation provider, Nasfund,” she said.
“This occasion is even more special, as it is Nasfund’s first engagement with smallholder growers under NBPOL in this industry that is essential to the economy, not only in the WNB province but nationally as well. You now join our more than 500,000 members from across Papua New Guinea in saving for retirement who also save with Nasfund. With the smallholders now a part of the Nasfund family, they can also receive the benefits that come with saving with Nasfund - Annual interest paid on savings; Access to the Housing Advance Scheme; Discounts at our Membership Discount Program partners; Access to our Member Online Portal; Access to our branch facilities here in WNB, and our Call Centre; Access to our Savings & Loan Society, NCSL – who are the leading Savings & Loan Society in the country.”
She added, “This is only the beginning of a long-term partnership to provide leading superannuation services to our people, wherever they are, in whatever industry they are in.”