Nasfund and Business Coalition for Women Partner to Empower Female Leaders through Superannuation Education

The National Superannuation Fund and the Business Coalition for Women (BCfW) are pleased to announce their partnership to empower female leaders through a superannuation education initiative. This collaboration underscores both organizations’ commitment to fostering gender equality and financial literacy in Papua New Guinea.

In March 2021, the Pacific Islands Investment Forum (PIIF) board approved the 2021 strategy and business plan for the Secretariat to establish a Women in Super program to address the barriers to women’s equal access to retirement funds in the Pacific Islands. The findings of the Private Sector Development Initiative study found that despite progress in gender equality, women continue to face challenges in accessing retirement funds and maximizing their benefits. These challenges include policy and regulatory barriers, organizational constraints, and a lack of awareness and financial literacy among women.

Rajeev Sharma, CEO of Nasfund and Chair of the Pacific Islands Investment Forum, commented on the importance of superannuation education, stating, “The start of changed behavior to financially empowered citizens is the education on this. Superannuation education is essential for individuals to understand how to maximize their retirement savings. It involves learning about contribution strategies, and the importance of long-term financial planning.”

“This partnership between Nasfund and BCfW marks a significant step forward in addressing the gender gap in retirement planning and promoting women’s inclusion and empowerment,” said Evonne Kennedy, Executive Director of BCfW. “Through our collaboration, we aim to equip female leaders and emerging leaders with essential knowledge and tools to navigate retirement planning and financial literacy.”

“BCfW and Nasfund agree that targeting these participants who are recognized by their respective employers from the public and private sectors as people leaders ensures a rippling effect of knowledge is cascaded throughout their respective organizations to their people,” Sharma added.

Nasfund’s superannuation education modules will be integrated into BCfW’s leadership programs, where Nasfund trainers certified by the Centre for Excellence in Financial Inclusion will deliver the session to the BCfW Executive Women in Leadership program attendees.  

“We are excited about the potential impact of this partnership and remain committed to advancing the rights and opportunities of women in leadership,” added Kennedy. “Together, we can build a brighter and more prosperous future for all.”