Smallholder growers, who supply Oil Palm to New Britain Palm Oil Limited, now have the opportunity to save for retirement with Papua New Guinea’s leading superannuation provider, Nasfund.
Through the Fund’s Eda Supa product, an initial 700 smallholders have already signed up to begin superannuation contributions under this arrangement, facilitated by NBPOL.
A ceremony to launch this initiative was held on Friday November 13, 2020 in Kimbe West New Britain, where representatives of Nasfund, NBPOL, smallholder growers and the provincial government witnessed the first payment of smallholder superannuation contributions.
This initial member contribution of K100,000 was presented to Nasfund, by NBPOPL on behalf of its first batch of smallholder growers who registered for the Fund’s Eda Supa product.
Addressing the occasion, Nasfund Chief Officer Member Services, Anne Wilson, thanked NBPOL for its support in assisting to facilitate superannuation contributions for its smallholder growers, and also acknowledged the important role of smallholders in the oil palm industry, whilst welcoming them to the Fund’s membership.
“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.
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.
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.”