Nambawan Super takes a stand on PNG LNG

 Below is what the Managing Director of Nambawan Super, Mr Leon Buskens has said in his column - From the MD's Desk - in the July newsletter Toktok Supa

High expectation’s surrounding the LNG Project are bringing PNG plenty of positive forecasts.  Money from the gas could double our economy and over the next four years we will see hundreds of construction jobs created.  All potentially good.  But we also need to think about the potential challenges and risks to our society and economy this influx of money may also bring.

Nambawan Super takes its responsibility of looking after your financial futures very seriously, so we are being proactive.  We want to make sure our people are not seduced by the temptations of instant cash or battered by high inflation, but have access to ways to preserve wealth for their for their long-term benefit and grow it for our future generations.  So we commissioned research to help us understand the impact of the LNG Project better and what it will mean to the investments your Fund makes.

First ever superannuation certificate training conducted in PNG

Over 20 employees in the superannuation industry have recently undergone a three- day specialised training course in superannuation - the first of its kind to be conducted in PNG for the superannuation industry workers.

The course titled ‘ASFA 100 Superannuation - Certificate IV in Financial Services (Superannuation) was conducted by a training expert from the Australian Superannuation industry, Peter Grace who has worked with the industry since 1985.

The course which is offered initially through a three day workshop, will be continued through an online assessment component in which the course participants will be awarded the Australian national qualification – Certificate IV in Financial Services Superannuation, after successfully completing the course. Among the subjects covered were:  The Control of Superannuation, Investments, Tax and Super, Income Streams and Lump Sum Payments.

Nambawan Super to fight land lease

Papua New Guinea's largest superannuation fund, Nambawan Super was last Friday granted leave to appeal before the National Court against the decision of the Lands Minister to forfeit a State lease  it owned for 99 years.

The leave was granted pursuant to Section 142(2) of the Land Act 1996 for the plaintiff (Nambawan Super) to lodge an appeal in the National Court within 14 days.

Nambawan Super contributes to Housing industry review

 

  

In light of housing industry review conducted by the Independent Consumer and Competition Commission (ICCC) to gather views and find solutions to the current housing crisis in the country, Nambawan Super has come forward with its comments to the Commission calling on relevant authorities to consider among others, the establishment of a National Housing Policy.

Nambawan Super is one of the biggest owner and developer of properties in the National Capital District (Port Moresby).

Managing Director, Leon Buskens said there was an obvious lack of an overarching ‘National Housing Policy’ to holistically address the housing needs of the country and this has resulted in state of condition that we are in today.

Mr Buskens said while some employers and institutions like Nambawan Super are working on being part of the housing solution through relatively small housing roll out programs, more can be achieved through a collaborative and sustained platform such as the National Housing Policy framework.