Market Research Report: Nambawan Super Limited

Company Overview

• Name: Nambawan Super Limited (NSL)

• Mission: To be recognized as Papua New Guinea’s superannuation provider of choice with members at the heart of everything done.

• Founded: 8 June 1962

• Founder: Originally established as the Public Officers Superannuation Fund.

• Key People: The Board of Directors, composed of a commercially experienced team including two non-resident directors and seven resident directors, are involved in the governance of the fund. All senior officers are subject to stringent regulatory checks by the Central Bank.

• Headquarters: Port Moresby, National Capital District, Papua New Guinea.

• Number of Employees: No information is available.

• Revenue: Close to K10 billion in funds under management.

• Reputation: Known as Papua New Guinea's largest and longest-serving superannuation fund, prized for robust investment strategy and financial security provision to members.

Products

Employment Superannuation

• Description: This product is aimed at securing financial well-being for members upon retirement, facilitating contributions from both employees and employers.

• Key Features:

• Compulsory participation for companies with 15+ employees.

• Contributions include 6% from employees and 8.4% from employers.

Retirement Savings Account (RSA)

• Description: A specifically designed account for retirees to receive regular payments while earning interest on the unused balance.

• Key Features:

• Access to funds as regular payments; continual interest growth.

• Offers significant tax savings.

• Eligible for teachers, nurses, police officers, and other roles.

Choice Super

• Description: Targets voluntary contributions for retirement, ideal for SMEs and expatriates.

• Key Features:

• Flexible payment options.

• Contributions earn the same interest as other members.

Additional Services

• Housing Advance: Allows members to access part of their super to assist with housing needs.

• Financial Literacy Training: Provides free tools and training to build wealth into retirement.

• Discount Program: Offers savings at partner outlets when presenting a membership card.

Recent Developments

• Strategic Growth: The fund has experienced significant growth from K500 million in 2000 to nearly K10 billion.

• Anniversaries: Celebrated its 60th anniversary in 2022, marking decades of service to Papua New Guinea's community.

• Partnerships: Nambawan Super renewed its Discount Partnership with Pacific International Hospital, enhancing member benefits.

• Land and Investments: Ongoing projects and investments, such as the management of key properties like the Moki Business Park. Also, maintained legal ownership regarding significant land segments like 9-Mile, Bushwara.

Conclusion

Nambawan Super Limited plays a crucial role in Papua New Guinea’s financial landscape, providing reliable superannuation services and investment opportunities for over 220,000 members. With a strong governance framework and a diverse portfolio of products and services, the company positions itself as an industry leader committed to the financial well-being of its members.

For more information and updates, members and interested parties are encouraged to subscribe to their newsletter or reach out via contact details provided in their communication channels.

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For direct inquiries and detailed information, Nambawan Super Limited can be contacted via their Call Centre or email. They are also available in major centers across PNG.