Showing posts with label NASFUND. Show all posts
Showing posts with label NASFUND. Show all posts

How to Access NASFUND Online Services

NASFUND contributors can access the on-demand services it provides to its members online. It an effort to reduce the long queues at its branches nationwide, the PNG workers Superfund has gone online.

NASFUND withdrawal form

Three ways to access NASFUND services:

  1. Call 1588
  2. Members login with credentials 
  3. Employer Login

NASFUND members portal 

Members to access information on superannuation contributions, balance statements, loan eligibility, housing advances and more.

NASFUND Employer portal

This portal is for the employer's HR department or payroll section to access and remit their employees fortnightly superannuation contributions.

NASFUND online withdrawal 

For members who are eligible to withdraw their NASFUND savings.

How to access NASFUND portals

Members,  employers and contributors can access the members and employees portal via the official website at

Whereas, eligible members who want to withdraw their saving can email their NASFUND savings withdrawal application form to

Visiting NASFUND branch

For members planning to visit any NASFUND office in the country must go Covid19 prepared. You must wear masks. 

NASFUND will not let members into their office if they do not wear masks.

Below is a NASFUND info flyer for more information.

Three ways to withdraw NASFUND savings online

NASFUND Member Benefits and Interest

The magic of compound interest.

NASFUND members should take advantage of the benefit of compound interest while contributing towards their retirement savings. 

Source: NASFUND Facebook | 23rd March 2019

Chief finance officer, Rajeev Sharma said that, the benefit of compound interest can be seen when NASFUND member does not withdraw funds for the long term. Compound interest will further grow member's balance if the  member increases an additional amount from the normal mandated contributions of the member or employer contributions.

In an example of a member who has contributed for 30 years.

The illustration below shows the benefit of increasing one’s contribution through voluntary contribution of K50 and K150 with an assumed average return of interest of 5% for the period of 30 years. 

Additional Contribution (K) 
10yrs    20yrs       30yrs          
K50      K7736      K20, 339   K40, 866

K150   K23,207    K61,007    K122,579

A member who increases an additional contribution of K50 for the next 30 years will have a total additional balance of K40,866, out of which he would have contributed only K 18,000 and balance of Kina 22,866 would come from interest. 

However, if the NASFUND member increase an additional of K150 for the next 30 years, the member will have K122, 579 as his total balance.

“This is the magic of compound interest”, he said. 

“This will happen if the member does not touch the funds while still contributing and the savings will grow through interest that is being credited by the FUND annually”. 

NASFUND has paid K1.4 billion as crediting amount to it’s members in the last six years