Frequently Asked Questions

Frequently Asked Questions

Q: I have just joined a new employer who is contributing to Nambawan Super Limited, am I eligible to withdraw my money with NASFUND.

A: You cannot withdraw your funds from NASFUND. You will have to transfer your Funds from NASFUND to your current contributing Superfund (Nambawan Super).

Q: What is the process to transfer my Funds?

A: You will have to go through the same process as withdrawing your FUNDs. You must provide all documents as required for withdrawal, however on the full withdrawal application form, you will mark the box where it states ‘ transfer ’ .  

Note: You must already be a contributing member to the superfund that you would want to transfer your funds to.

Q: I am currently contributing to NASFUND and would want to transfer my FUNDs from Nambawan Super to NASFUND.

A: Please go to your nearest Nambawan Super branch and ask an officer to assist with the process to transfer your funds.

Q: I have two NASFUND accounts. Is this ok?

A: It is not ok to have more than ONE account. You must immediately Merge all your accounts to your original account number. A member must always have ONE account no matter how many companies he/she has worked for.

Email: help@nasfund.com.pg for assistance.

Q: Why do I have more than one membership number?

A: There are several factors that may lead to a member having more than (1) one account.

  • The member never advised his employer of his/her old membership number when he/she joined the company.
  • The payroll officer didn’t fill the correct form to state a member has an existing account creating a new account under the new employer.
  • The system automatically creates a new account if the member may have also changed names but hasn’t advised the fund through their payroll or HR officers.

It is very important to advise your payroll officer of your membership number as soon as you join a new company or employment.

Q: If I have already withdrawn all of my funds. Should I use the old membership number when I start contributing?

A: No, you have to advise your payroll to create a new account because you have already exited that account.

Q: When does the FUND update member’s contributions?

A: The FUND encourages all employers to remit members contributions at the 15th day of each calendar month.  

Q: My balance has not been updated for over 2months. Are my funds secured?

A: Your Funds are secured, but there are factors that contribute to contributions that are not updated on time.

Factors may include the following;

  • Your employer has not remitted your contributions on time.
  • Your employer may have remitted your contributions but they may not have advised the account officers of the FUND on deposits and the contributions may be sitting under the un-allocated trust fund.
  • To correctly identify contributions and allocate accordingly, the FUND must then confirm with employers when the bank provides statements to correctly allocate the contributions which may lead to prolonging updates.
  • Your employer may have remitted your contributions on time but the officers concerned have not updated your contributions because of un-clean schedules.
  • A schedule is a form that includes every contributing member’s account details. If a schedule is incomplete the system automatically rejects the whole file and gets the account portfolio officers to send back to employers to provide ‘clean’ schedules. If this schedule is not returned immediately can cause the delay of updating contributions on time.

Q: If I find that my contributions are not accurate, what must I do?

Immediately email: registrations@nasfund.com.pg or directdeposits@nasfund.com.pg for officers to confirm.

Q: My balance on the online service is not accurate to that provided by the help desk, why is that so?

The online balance is updated weekly. However, sometimes it can be a week or two behind. For an updated statement, please email: help@nasfund.com.pg.

Also note that your balance is updated once a month. Even if your pay office deducts your pay fortnightly, your contributions are sent on the 15th day of the next calendar month, for example; your July payment will be received in August and etc, do not check your balance weekly because your contributions are updated on a monthly basis.

Q: I am trying to lodge my application but there isn’t a NASFUND branch nearby, what should I do?

You can email or fax your application to the nearest NASFUND branch or email: help@nasfund.com.pg and copy the nearest Branch for further advice. Go to www.nasfund.com.pg to look up the contact of the nearest branch. Ensure that the copies sent are clear and visible for screening processes.

Q: I don’t know my membership number, how can I get my number?

Send an email to help@nasfund.com.pg with the following information; full name/current or last employer/ date of birth and name of one of your nominated beneficiaries.

Q: How much will I be receiving under partial withdrawal?

Partial withdrawal is for members who are still out of employment after 3months and are facing financial hardships. The FUND will pay you your most recent fortnightly gross salary, but on a monthly basis. Your Gross salary will be taken from your employer reference that is a required document when lodging your application.

Q: When am I eligible to withdraw my funds?

A: If a member is un-employed after 3 months and is facing financial hardship, he/she is eligible for a partial withdrawal. If the member has still not found employment after 12months. He/she is eligible for full withdrawal.

Q: I am unemployed after a year (12months) and want to withdraw my funds, what are the requirements needed to lodge my application?

A: Members must have on hand the following documents to lodge a clean application for faster processing of funds.

  • Withdrawal form (SF21)
  • 3 months Bank statement
  • Nomination Form (SF2)
  • SF6 Form (monthly return of members who have left service).
  • Identification Card or letter from the most recent employer.
  • Letter of references from past employer(s).

Q: How long will it take to process my withdrawal application?

A: If all documents are in order, the process will take 2 – 3 weeks to process if it was lodged in Port Moresby and 3 - 4 weeks if the application is lodged outside of Port Moresby.

Q: How long do I have to be a member to be eligible for Housing Advance?

A: You must be an active contributor for 5 consecutive years. For more information please email: housing@nasfund.com.pg

Q: How do I claim funds of a deceased family member?

A: You will only claim funds if you are a nominated beneficiary. Documents required to claim funds include; every nominee must provide the following documents when lodging an application.

  • Withdrawal Application by nominee(s) (SF22).
  • Bank Statement of nominees.
  • Death Certificate.
  • Warrant of burial.
  • letter of confirmation from pastor/priest or village counsellor.
  • Employment reference(s).
  • Identification (ID or birth certificate) of nominees.

Q: Is it possible to withdraw my savings while I am still working or contributing due to financial hardships?

No, your funds are purposely for ‘Retirement’ you are not allowed to withdraw until you have reached retirement age or if are eligible to withdraw under other ‘approved withdrawal status’ such as; emigration, disability, death or un-employment.

Q: How long does it take to process a Housing Advance Application?

A: If all documents are in order it will take 2 - 3 weeks for files lodged in Port Moresby and 3 -4 weeks if lodged outside of Port Moresby.

Q: Why am I told to provide employer references from all the employers I have worked with previously?

Your balance in your account is made up of three components;

  • Employer component;
  • Employee component (member portion);
  • Interest added by the FUND.

The Employer component is not entitled to you until all those contributing employers you have worked with confirm/approve through the required employer references for the FUND to action accordingly.

Q: What if the employer I have worked for 10 years ago has left or destroyed my files and I cannot get an employer reference to get my funds or merge my accounts?

A: The FUND will ask for any form of document or Identification while working with that employer, this could include a previous work reference; ID Card, letter of employment confirmation or a bank statement to identify history of salary from that employment, if there is no other document to verify, the FUND will go through identification weighting assessment to make a decision.

Q: I need help with withdrawing my FUNDs. Is there an email I can liaise with someone?

A: Email: help@nasfund.com.pg or call our TOLL FREE number on 1800 673.

Q: How can I get a copy of my balance statement?

A: you can request for your statement by emailing your membership number, date of birth and current employer to help@nasfund.com.pg or you can go to www.nasfund.com.pg and check your balance online.

Q: Who do I contact to find out about my withdrawal application?

A: For any enquiries or follow ups. Please email our helpdesk via help@nasfund.com.pg or call the TOLL FREE number 1800 673. 

Q: I am currently receiving partial payments. Will I receive my remaining balance when I reach the 12months period?

A: A member is required to write a consent letter to advise the fund to release the rest of his balance when he/she has reached the 12months period. He/She is also asked to provide a 3month bank statement. Member must lodge the consent letter and balance statement at the branch where application was lodged.

Q: Is there a faster way to access my balance than standing in line?

A: There is a Digicel and Bmobile service where you can check your balance using your mobile phones.

You can TYPE*627*membership number*D.O.B# SEND. (Date of birth in format ddmmyyyy)

 

For general enquiries please email: help@nasfund.com.pg or call the NASFUND Toll Free hotline on 1800 673.

Not contributing to NASFUND? Ask your employer Now!