News

Monday 21 December, 2015

Chairman Christmas message 2015

Chairman Christmas message 2015

The Fund is on track to achieving operational targets it set for itself this year.  In his Christmas message to members, Chairman William Lamur said the focus for 2015 was to continue its Improvement Program which entailed timely Client Services to members was maintained and working closely with the regulator, BPNG, to ensure systems and processes pursuant to new prudential standards were put in place.   

In spite of challenges faced by a number of major contributing employers, resulting in downsizing of their workforce, Fund membership grew by 5% to over 513, 000 members. We also saw the successful reopening of the Kavieng branch, significant reduced turnaround times to 7 days, automation of Partial Withdrawals, significantly reduced queues at Lae and Boroko branches through segmentation of processing days, and interaction with our Investment Team for better management of liquidity.

“Our audited results will be made known in late February next year but for now, I am pleased to note we have been tracking on budget across a number of key operational and financial areas of the Fund’s Operations”.

The board, management and staff have worked hard this year and will continue to do so in 2016 for the benefit of members.

On behalf of the Board, Mr Lamur thanked contributing employers for their support and cooperation and wished members and their families a safe and enjoyable Christmas 

 

William Lamur, OBE

Chairman

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