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.

Superannuation in Papua New Guinea (PNG), plays a vital role in securing the financial well-being of individuals after they have retired and can no longer earn a consistent income. Elsewhere, in more developed economies where tax systems are supported by a majority of employed ‘middle-to-higher’ income earners, citizens benefit from financial support provided by their Government, when they are no longer working. However, in PNG, the only safety net after retirement for the majority of workers is their superannuation savings.

As such, the Government of PNG had implemented the Superannuation (General Provisions) Act 2000 which made superannuation contributions compulsory for a large portion of the Country’s workforce. Superannuation in PNG holds immense significance for individuals and the Nation as a whole as it contributes to both the social and economic well-being of the Country through:

  • Retirement Security: PNG's superannuation system provides a crucial safety net for retirees, ensuring that they have financial security and a steady income stream during retirement.
  • Improved quality of life: The retirement entitlements paid out to exiting Members can support the improvement of living standards for many families as it allows them to access education, healthcare and goods and services that may have not been readily accessible prior.
  • Promoting Financial Literacy: The superannuation system fosters financial literacy among the population, as individuals become more aware of their financial goals and the importance of long-term savings.
  • Investment in the Local Economy: Superannuation funds in PNG invest in various assets, including local businesses and infrastructure projects. These investments, coupled with the large cash-flow injections into the economy each year through entitlement payments, stimulate economic growth and job creation within the Country.

How much can Members contribute?

Employers with 15 or more employees are required by the Act, to make superannuation contributions to an Authorised Superannuation Fund (ASF) on behalf of their employees who have been employed for more than three months. The contributions remitted by an Employer to an ASF are comprised of a minimum of:

6% employee contributions (deducted from the employee’s salary after tax); and 8.4% employer contributions (not deducted from the employee’s salary).

The 8.4%, contribution by the Employer is based on the employee's gross salary and is paid by the Employer from its own funds.

The Employer contribution may be increased, to generally 15% of the employee's gross salary, while the employee can choose to make voluntary contributions in addition to the mandatory 6% of their net salary after tax.

People working in the informal sector can also choose to contribute a portion of their income to an ASF. Nambawan Super offers these workers the Choice Super product which allows them to earn the same percentage of interest and receive the same services and benefits available to all other Nambawan Super Members.

Choice Super Members also have more flexible payment options and are able to make contributions of differing amounts as and when funds become available to them.

What do Authorised Superannuation Funds do?

Authorised Superannuation Funds (ASFs) in PNG are predominantly accumulation funds that use Members’ savings to make investments and generate profit which is then distributed back to the Members as interest.

The value that a Member receives from an accumulation fund when they retire, depends on the amount contributed by the Employer and employee, in addition to the interest that compounds each year that the savings remain with an ASF. This means that the more a Member saves through their contributions, the more they will get in interest each year and the more they will have paid out when they are ready to retire.

ASFs in PNG, like Nambawan Super, play a vital role in ensuring that the savings of their Members remain protected and continue to grow throughout their working lives, allowing them better financial security in retirement. To do this, ASFs help Members by investing in properties, businesses, and shares that they may not have been able to access individually.

As an example
Nambawan Super manages close to K10 billion belonging to over 220,000 Members. Individually, a Member would not be able to build a property or run a large business, however together, as Members of Nambawan Super, they are proud owners of key properties and companies across PNG through the Fund’s Investments.

Aside from its efforts to generate profit for its Members, Nambawan Super also works to ensure that Members receive high-quality services, information and financial literacy training to help them maximise their superannuation for a better retirement outcome.

Are my savings safe with an Authorised Superannuation Fund?

ASFs in PNG are monitored and regulated by the Bank of Papua New Guinea (BPNG) and are subject to and governed by strict regulatory guidelines dictated by the BPNG Prudential Standards. These measures ensure that the ASFs are prudently managed and that reasoned, informed and impartial decisions are made in the best interest of its Members with respect to the ASF’s investments, risk management and remuneration of staff.

Nambawan Super, for instance, exists to invest and grow amounts contributed by or on behalf of Members for their retirement. It has no purpose other than to serve the interests of its Members.

As such, the Fund is managed according to the Principles of Good Corporate Governance. The Nambawan Super Board of Directors implements five key Corporate Governance Principles across all its operations. These Corporate Governance Principles are:

Principle 1: Compliance with the Law;

Principle 2: Effective Leadership;

Principle 3: Integrity;

Principle 4: Accountability; and

Principle 5: Risk Management.

When can a Member access their entitlements?

The primary purpose of superannuation is to help Members enjoy a comfortable retirement when you've finished working. Therefore, to be eligible to access your superannuation entitlements, you must have finished work. Member must not be working, that is formally retired and off the payroll.

ASFs in PNG were created with the explicit purpose of supporting Members after they retire, there are strict requirements imposed under the Act regarding the withdrawal of a Member’s superannuation entitlements.

As stipulated under Section 90 of the Superannuation (General Provisions) Act 2000, a Member must meet the below criteria in order to access their superannuation entitlements or be penalised with higher tax rates:

  • Reach 55 years of age or older;
  • Complete 25 years of contribution to an ASF;
  • Member is over 50 and has contributed more than 7 years;
  • Exit the workforce on medical grounds; or
  • Complete 20 years of police or military service.

If a Member has left employment but has not met the eligibility requirements (55 years of age or the years of service requirements) for a normal exit, they must wait for 12 months from the time they ceased employment, before they can formally apply for their superannuation entitlements. 

Members can also apply for Unemployment Benefits (UB) if they become unemployed and have not found employment after three months. Unemployment Benefit is equivalent to 50% of the Member's monthly salary at the time they left employment.

Learn more about accessing your super

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