Keeping members informed - Nasfund Papua New … members informed THE annual Employer conference has...

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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 23% are eager to know more about NCSL (Processes of becoming a member and 21% of Employers want to be updated on the FUNDs’ existing Products and Ser- 14% want to understand the Calculation of Tax/ Superannuation Act on important - Employers raised concerns for improvements in service delivery includes; Need bigger members chamber/ Long ques daily/Lack of immediate respons- 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- 2014 Issue 3 & 4 Page1

Transcript of Keeping members informed - Nasfund Papua New … members informed THE annual Employer conference has...

Keeping members informedTHE 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 ����������/��� ������������������������������������������������������������������������������'���������������� ���������������������3��������������������������������������� �������� ����������� ������� �

���������������� ������!"#�$� ��������%��&�����&� '� �23% are eager to know more about NCSL (Processes of becoming a member and ������/�����������������'��������� �����������'�������21% of Employers want to be updated on the FUNDs’ existing Products and Ser-'������9:������������������������������� ����������������������������<���14% want to understand the Calculation of Tax/ Superannuation Act on important ����������������"?���'�������������������������'������������ �������$&@�:������������������������������������������9�������������/�� ���������������������� ���<�� � � ���B�@�������������������� ��G����� �����J����������

(��� ������)�)*�� �����&�&�����*������+����&������������

$���������������������������������� �����������'���������������"�� ���������-������������'��������������������������������������O �����?��� ���Q��!���"������������ ���������������� ���������������

Employers raised concerns for improvements in service delivery includes; Need bigger members chamber/ Long ques daily/Lack of immediate respons-��������O ������9!���"���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-���������������������� ���� ��������������������������������#������������������"������������������ ������������������������������������"�����!���"���3��'���������V ���������'������������������+���������*���� #������������������������������������������ �������W����������������������������������������� ���������������'��������������������:��������������������������)��������������������������������������� ����������������'������� ������ ��� ��� ������������������������ ����������������������������������������������������� �������� �������������������3 ������ �������������������������������"�����

2014 Issue 3 & 4

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Members in Manus Province

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Monday 26th of May marked another milestone in NASFUND’s historic oper-ations when it opened its 15th Branch ��������� ��� ��������������� ���#��� ������ ���� ��������"� ������� "�

the Town Mayor Mrs Ruth Mandraka-mo and the General Manager of Nas-fund Contributors Savings and Loans *����������\����*�� �)������������new era in the FUND’s mission to in-crease access to Superannuation ser-'������J������������ ������� ��G��-��� ��� G������ ���� ]�� ���")� ����Peter Poiou encouraged the public and business houses to fully utilise the � ��������'��������������������������������"��������� J��� � ����� ����� ��� ���� �� ��'����

testament of the services provided by the FUND, sharing his experience of building a three bedroom house in his

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, es-pecially with the increasing develop-ment of businesses within the town-������General Manager for Nasfund Con-

tributors Savings and Loans Limited, ����\����*�� �)����������������������

the NASFUND Board and Management said that the objective of opening the branch was to bring the FUND’s ser-vices 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 po-litical, economic, social or technologi-�����

,���-�������.-�"(/�0

PICTURED from Left - Right: Lorengau Town Mayor, Ruth Mandrakamo and General Manager of ����������� ������������������������������� ����������������������������������

�������������������!���������"�#� ���� ����������

$����%��������������� ������������"������������������������� �&����%'�(�)����������� ���� �����������������������"����

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#���J���� ��� ��� ������� � �������� ����'������ ��� �������������������'��������superannuation services in PNG and its mission of safeguarding growth and the retirement income of mem-bers by optimizing growth and mini-�`��������� ��������������������������� *�� �� ����� ������� ����� ��� ������

money to set up branches around ���� �� ���"� ���� ��3����� ��� ����-dent that the people of Manus and the business houses there will sup-port 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 ���� "������ ]�� ���'����� ��� ���������������������������$$�{@����Q{$|)���"�supported by NASFUND Contribu-tors Savings & Loan Society who paid members an interest crediting rate of ~�{@���������������������������������$B�{@������������������������-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 ���� ������� �W����� ��� ���� ����� *���������������V�����������������Q$@�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 ���'�����

to benefit from new branch

*+)�.!/0�1*%�$2.�0&�����������"���������1��������3����4�������������������������������������������������*����������������� ���������������������������������������� ����#����

Membership Discount Program - Benefit from your NASFUND ID

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���� ��&�������&���1�*�� ��� , ���0� �� ����‘letters to the editor’� �&���� �� ���� ����������� 1�1���"�1��2�(�)�)*������ ��&�&�� ��*���� ���� ��3����)�� � �� &����� � ����������������)��� � �1���������4� 2�

���-�# ��� 1� �5NASFUND 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 ����G� ���"��

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 support-ing community groups and is an advocate evident through community groups that it houses such as; BAHA, Coalition for Change and Buk bilong Pikinini �������V3J�+� �����(����� ����J���������"��

Facebook/Media Updates

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Lae Branch Feature

Meet your Lae Branch TeamLae

Bran

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Fact File :������������� ����������Michael Matmilo�������������� ���Morobe Province���� �����������10��������������� ��������75,691���������������������� ���300�� ��������������!��"# ����$%&&&�� ���������� ��� �����'(&)������� �� �������������������'&%&&&)��������� �������#�� ����'%&&&�+,��-�����,��./,01"��-�#������)�����O�����5��������������,@��0>��� ���"������>�!�����=��>����&�K����>�!�-

&�����!��)����,K���0>�/����S�=� �>��� �����&� >�!���*��������&>�,������0>����)��S����2

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 ap-plications 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 ���������"���������������J��'������

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 guide-lines 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 mem-bers 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 busi-nesses 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

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 � �����������������

(�������)�����������+����&� ����)2

��+�����&���/����S�=� ��� � ������)�)-*������������K��)����&������&�����+� ��)2

!�)*�� �*���� ������������*��&�2

When duty calls!�&�����!��)����5����Role: Manages the branch, oversees all branch operations and ensures branch meets its key performance �����������

��+�����&�� 59*/�<��!����V���������������(�������Ensure all NCSL appli-cations and enquiries ��������������

�)1�����������*���� 5Miribian Etiric ensures that all employer contributions are remitted on time and �������������+����������for updating of members accounts and administra-�����������

�������+����&�����&�� 5:����(��'�)��������J����-gat, Elsie Lucas, Melinda (����Ensure all member enquiries are dealt with at the counter, receive and screen applica-tions lodged for approval to ��������������+�������������J���������"��

,@��05�+�&����������2Delilah Naio������������������������)�Michael Matmillo to man-age the branch and ensure ������������������

NASFUND Updates

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Contributions

Manager - Finance

Registrations

ManagementCEO’s Office

PHONE DIRECTORY - BSP HAUS KONEDOBU

Warwick Vele (GM)Seno Wekina (Legal)

313 1827

320 1935320 1734

Operations

Dickson Aopi (Mgr)

Leumi Luli

Pia Kupma

3131 8263131 869

3131 860

Daniel Vagi 313 1941

Ceslie Ila 313 1928

Communication CentreDoriga Soge 3131 895Sonia Aria

Theresa Maki3131 8833131 897

Beatrice Manua 3131 915Rhoda Borakon 3131 804

Employer ServicesSiri Koae (Mngr) 320 3994

Michael Pokanau

Anapu Anapu

3131 837

3131 841

Steven Mase 3131 831

Raela Wari 3131 930

Business Development & Marketing

Branch Support NetworkSteven Gerega 3131 911

Media and Communication Officer

Accounts

Andrew McGrath 3201 174

Charles Lee 3131 823

GM - Finance and Investment

Dilly Tarua 3203 886

Manager - Investment

Human Capital

Manager - HR

Human Resource OfficerKevin Gao 313 1886

IT

Johanna Vavana 320 3942IT Team Leader

Ikanau Matingau 320 36626

Reception3131 829

Email: [email protected]

For all enquiries please call our Communication Centre Team as your first contact.

Margaret takes up role as Mt Hagen officer in ChargeSHE 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 experi-ence in business Management from administration to project manage-ment which includes logistical opera-tions in the IT Industry and Sales and �����������

Margaret said that the Mt Hagen branch portfolio covers the whole ��� ��� +����)� ������)� :������� ����

Southern Highlands Provinces, Geo-graphically 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 Ha-gen Branch is to achieve the best out-�����

“ I am most passionate about see-ing a Happy Customer! Be it a Com-pany, 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 last-ing impression of service, dedication, ��"���"������������)������������

“ I have crossed parts with many in-dividuals and some of whom I have ���������������_ ����������������������� ������"�����"��]�����"�������������������������

However, I am content in the knowl-edge 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 "���������������������������������

!��������S�����!��G����K���

NASFUND head office relocates to Konedbou

Page 8

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 commenced.Regardless of being on; casual/part time, proba-tion or permanent status.Employees are responsible to follow up on com-mencing 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

�Active Contributor for 5 years or more.�Housing eligibility is 100% members com-ponent of contributors excluding Employer & Interests portions.�Minimum eligibility is K1,000.�Purchase of principle place of residence.�Build on State or Customary land (customary land - given right by land owners).�Equity for home loan with licensed financial institutions (commercial banks, NCSL and etc,)�Member required to replenish/restore advance taken at minimum rate of 2%.

OPTION: NCSL established for;

�School fees - Education Savings Account.�Extra Cash for Christmas - Christmas Savings Account.�Personal Loans - General Savings Account.with low interest repayment rate of 1 %.

When can a member access entitlements?

Unemployment RetirementPermanent DisabilityEmigrationDeath

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

Page 9

NASFUND Contributors Savings & Loan Soci-��"�*���9�G3*<����������{{�#� ����� ��� ��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 participa-tion in the upcoming Commonwealth Games in Glasgow, Scotland

Coronation Community School has over Q{{{��� ��������������3���)������������������

at the school, accepted the T-shirts on behalf ����������������+������������

He thanked NCSL for the generous sponsor-ship, saying that, it is great to have a good corporate organization like NCSL supporting �� ���"���������'���������'��'�������������

The T-shirts will enable students to partici-pate in the annual Fun Run event scheduled ����3 ���"�QQ���� ���

The presentation took place at the School grounds, where the NCSL General Manager

����\����*�� ����� ��"���������'��������W������ ������� ��� ���� 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 ��� ���#� ����� ��� ��)�����*�� �������

4��)�����5���+��/������!�����>�$����������1�� �����4��#���O ���� ���������������))�����+&�������"����!��� *�2�

K�&�)����)�)*��������+��*���� �����������* ��� ���2& �2&�)21���� ���������������%1�&�����&������2