Disclaimer
The results obtained from these calculators are for general purposes only to illustrate the effect of compound interest and are not intended as a substitute for professional financial advice. Before making any financial decisions on the basis of these results, you will need to consult with an independent financial planner or accountant as well as consider whether the advice is suitable to meet your personal financial objectives and circumstances.
The actual performance of any investments will depend on future economic conditions, investment management, fees and taxation. Past performance is no guarantee of future performance and as a result of this, all the results are hypothetical and are NOT GUARANTEED.
Nambawan Super specifically disclaims any liability for any direct, indirect, incidental, consequential or special damages arising out of or in any way connected with the access to or use of these calculators. To the extent permitted by law, under no circumstances will Nambawan Super be liable for any loss or damage caused by a user's reliance on the information by using these calculators.
Assumptions
Projected super balance at retirement:
The projected total super balance takes into account your starting balance, employee and employer contributions, any additional voluntary contributions as well as interest earned between now and your retirement.
Retirement age:
We have assumed a default retirement age of 65. This can be adjusted in the calculator.
Working life:
The calculator assumes that you will have a continuous working life with no breaks up to your retirement age.
Interest rate:
The default investment returns have been set at 6.0%. This is based on the Nambawan Super 10-year average interest rate.
Employee contributions:
PNG Superannuation laws dictate that 6% is the mandatory minimum contribution for employees to make. Employees may choose to contribute more than the minimum.
Employer contributions:
PNG Superannuation laws dictate that 8.4% is the mandatory minimum contribution that employers have to make. Employers may choose to contribute more than the minimum.
Here at Nambawan Super we don’t just employ the best talent, but actively work to improve our develop our employees and their capabilities, and close any skill-gaps through extensive training and development programs.
Our development programs cover a broad scope; from technical to behavioural training right through to preparing our staff for management and promotion. In growing the capabilities of our people at all levels, we not only improve the level of service for our Members but also support the building of PNG’s skilled workforce for nation-building.
As our employees develop their skills, grow their experience and enhance their capabilities, we also actively recognize good performance with internal promotion and career path development and succession plans.
With enhancements and innovations in a dynamic and growing nation like ours, maintaining a rolling training scheme not only ensures the continual provision of the best service to our Members, but also makes Nambawan Super a professionally and personally rewarding place to work.
