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.


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.

Whether you have 15 or 1000+ employees at your company or organisation, Papua New Guinean laws govern the responsibilities you must fulfill when it comes to Superannuation for your staff.

PNG Laws on Superannuation

Under the Superannuation (General Provisions) Act 2000, and Superannuation (Amendment) Regulation 2004, it is mandatory for companies and individuals that fall under the following categories to contribute to an Authorised Superannuation Fund (ASF):

  • companies that employ or engage more than 15 people;
  • individuals who work more than 3 months, and are employed by a company that employs more than 15 people. (companies/organisations may start contributions earlier than the 3 months)

Sections 76 and 77 of the Act state that Employers who meet the criteria above must pay 8.4% based on each employee’s gross salary, to a nominated Superannuation fund, on behalf of each employee.

In addition to this, they must deduct and facilitate payment of 6% from each employee’s salary to the same fund after tax. Payment must be made within 14 days of the calendar month.

The Bank of Papua New Guinea (BPNG) penalises any Employers who are not complying with the regulations stated above. Penalties are a fine of up to K500,000 or, a term of imprisonment not exceeding 5 years, or both a fine and imprisonment.

Companies employing less than 15 people, or individuals working for a company that employs less than 15 people can contribute voluntarily to a Superannuation fund through Choice Super contributions. The rates of 8.4% employer contribution and 6% employee contribution apply.

Defaulting Employers

All contributing Employers to an Authorised Superannuation Fund (ASF), are to take note of the mandatory requirements under the Superannuation (General Provisions) Act 2000 and the Superannuation Regulations in terms of the measures/penalties for failing to comply with such requirements in remitting both Employer and employee contributions.

An employer is required to contribute on behalf of each employee; it is also required to deduct employee contributions from employees’ salaries. These are then remitted to an ASF at the end of each month and each fortnight respectively.

Failure by an Employer to comply with these requirements amounts to an offence under Section 78 of the Superannuation (General Provisions) Act 2000, which carries a fine not exceeding K500,000 or imprisonment for 10 years or both.

Given the tougher penalties, which are now in force and to avoid the BPNG from taking extreme measures against the defaulters, Employers are urged to remit all contributions within the time required.

Recovering missing superannuation contributions

When an Employer fails to make a Superannuation contribution for, and on behalf of its employees, a relevant Authorised Super Fund (ASF) has the authority under Section 79 of the Superannuation (General Provisions) Act 2000 to act on behalf of employees (Members) to recover the outstanding contributions together with interest and penalty fees at the rate prescribed in the regulation from the date on which payment was due to the date of actual payment.

Who can I talk to at Nambawan Super to ensure that I am fulfilling my responsibilities as an Employer?

Nambawan Super has dedicated account managers in our Employer & Stakeholder Relations Team, who are always happy to answer any queries or provide guidance on anything, and everything to do with your company and Superannuation. Read more on this and your company and Nambawan Super here.

If you are yet to join an ASF and are considering doing so, you can also speak to our Business Development Team who will be able to provide you with any guidance and advice and assist you with the process.

Book a Partnership Meeting today