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.

Nambawan Super("the Fund") is a defined contribution fund (accumulation fund) approved under the Superannuation (General Provision) Act 2000. The Fund is governed by the Board of Directors of Nambawan Super Limited (NSL), the Fund's Corporate Trustee ("the Trustee").

Superannuation funds exist all over the world and are generally termed contributory pension schemes. They are designed to encourage savings and to secure your future in retirement. Employers are legally required to participate too by making contributions to what you save in your superannuation.

Your fund helps you save for your future and your family's security. When you stop working, for example, or if you can't work anymore, you will still receive some money. If you pass away, your family will also receive some help.

People in Papua New Guinea need to be part of these savings plans because the country does not have a system where the government gives money to people who are unable to work anymore.

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Members can be employees of any public or private organisation in Papua New Guinea, as long as their employer contributes to Nambawan Super. Whether they are employed on a full-time, part-time, or casual basis as long as they have been in employment continuously for 3 months or more they (and their employers) are required to contribute to superannuation. Employers may start a new employees contributions right away, and non-PNG citizens may also formally contribute if their employers decide to facilitate this.

Members can also be any non-formal sector worker or non-Papua New Guinean wishing to contribute to superannuation directly and voluntarily through a Choice Super account.

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Membership is compulsory for all PNG Citizens who are formally employed. Your contributions are remitted by your employer at the following rates, as a percentage of gross basic salary (excluding overtime, bonus, and commission):

  • 6.0% employee contributions (i.e. after-tax contributions).
  • 8.4% employer contributions (i.e. pre-tax contributions). Superannuation contributions are not compulsory for non-citizen employees but may be made on a voluntary basis.

You can find more details on the Employee Contributions Page.

Nambawan Super has retirement savings solutions for everyone, including for micro and SME owners with less than 15 employees, landowners, farmers or fishermen, expatriates and those in the informal sector.

You can invest in your retirement by opening a Choice Super account, our newest product under the Nambawan Super brand, developed to facilitate your voluntary contributions to super.

All Members pay 6% of their gross fortnightly salary by default. This however can be increased if you would like to reach your retirement goals or housing advance eligibility sooner through voluntary contributions.

Generally, employers match your contributions at the rate of K1.40 for each K1.00 of your contributions. That is, you contribute 6% and your employer contributes 8.4% on your behalf. Certain employers however, reward their employees with an Employer Boost - which means they've opted to contribute more than the minimum 8.4%.

The Superannuation (General Provisions) Act 2000 was passed in parliament and requires that each person employed for a period of three months or longer must be a contributing Member of an Authorised Superannuation Fund such as Nambawan Super.

The Superannuation (General Provisions) Act 2000 provides for both employee and employer contributions to be remitted to an Authorized Superannuation (ASF) on a regular basis. Employers must remit their employer contributions within 14 days of the end of each month and employee contributions are required within 14 days of the date of deduction.

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Nambawan Super, as Trustee administers the Fund in accordance with the superannuation legislation. The trustee is governed by a Board made up of nine independent competent directors.

The Trustee may only make investments that have been approved by the Licensed Investment Manager.

The Bank of PNG supervises the licensing of both the Trustee and Licensed Investment Manager.

You can read more on our Investment Policies for more information.

As long as you're formally employed it doesn't matter where you are located. When you are eligible, membership is automatic and happens through your employer. If there is anything further you would like explained please visit any of our 23 Branches nationwide, or contact us through our Call Centre.

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Nambawan Super staff are here to help you, and Members are encouraged to contact us through our Call Centre with any questions they have.

Your employer will start deducting contributions, which you will see on your pay slip. Your employer remits those contributions to Nambawan Super each fortnight. If at any time there is nothing on your pay slip to indicate a deduction has been made, you should speak to your Human Resources team to seek clarification.

As per the Superannuation Act, an employer is required by law to make its contribution as well. Both employer and employee contributions are remitted to Nambawan Super each fortnight. If at any time there is nothing on your pay slip or contribution statement to indicate a deduction has been made to your salary and that your contributions are being remitted to your superannuation savings, you should speak to your Human Resources team.

If you're still not getting satisfactory answers, you can call our Call Centre.

Your employer will already have much of the information required because you provided it when you applied for your job. (Things like your birth date, postal address, date of commencement of employment etc). Standard practice is to complete an New Member Registration form for NSL to collect these details.

There are, however, times when circumstances change in your job or your family situation, so you are advised to inform NSL of those changes to make sure your Member details are up to date. It is very important that you provide a list of beneficiaries in the case of your unforeseen passing. You can do this by completing a Member Detail Update Form, having this endorsed and stamped by your HR rep, and then lodging this at your nearest Nambawan Super branch.

There are no holding fees charged back to Members while your savings are managed by a Superfund. 

Yes, Members may, if they wish, make additional after-tax contributions to the Fund to maximize the benefits they will be entitled to on withdrawing from the Fund. These are called voluntary contributions.

Although certain financial institutions like banks may have the ability to create a joint account, in superannuation, there are no joint accounts. Every Member and their respective account is handled individually. If you would like your spouse, loved one or friend to be entitled to your savings if anything should happen to you, you must ensure they are formally listed as a beneficiary to your account.

You may have multiple beneficiaries, as long as you clearly indicate the percentage split you would like each beneficiary to be entitled to(adding up to 100%). This may have been information you supplied when you first joined or if you change jobs. To be sure, you can check your listed beneficiaries through the Call Centre, Online Member Portal, or the NSL Smartphone App, or by visiting your nearest Branch.

If you want to change your beneficiaries, or the percentage they are entitled to, you can complete the Member Detail Update process.

Yes, In fact, whenever your wages change, for whatever reason, because your contributions are calculated as a percentage, your contributions are adjusted according to your new total.

There is no set interest rate because returns on investments vary. Every year, when the Trustee has assessed its profit, it decides on how much interest can be allotted to Members . You can read more about the Crediting Rate here.

Nambawan Super will send every Member will be sent a statement showing account activity as at 31 December of the previous year. If you'd like to know about how the annual interest crediting rate works, you can read more here.

Although interest is credited to your account each year and reflected on your Member statement, it is not paid until such time as you exit the Fund, such as when you retire, or leave your job.

Yes, interest is applied on the employer contribution component as well as the employee contribution portion.

Six different types of termination of employment are possible: Retirement, Resignation, Dismissal, Invalidity, Emigration, and Death.

Generally, payment is in lump sum, but only payable when you are eligible to receive your benefits from the Fund and after you have completed the correct withdrawal application process.

The Member information statements issued by the fund, to all of its Members each year, are detailed and include cumulative figures.

So whether you are retiring or considering resigning, your entitlement will be the amount on your last statement plus contributions and interest paid since the last statement issued. You can use our Superannuation Projection Calculator to calculate a projected estimate of what the final figure will be.

It is important to frequently check your Member statement and advise us of any missing details such as your address.

Sometimes Members are not aware of the requirements to lodge a benefit claim application. If your application is incomplete, the claim will be delayed until proper documentation has been provided to the Trustee. Through an enquiry at any Branch or through our Call Centre you can quickly confirm the necessary documentation needed in any and all benefit claim applications.

Provided all documentation is complete and correct, the Fund Administrator will make every endeavour to pay your benefits within 5 working days of receipt of the Separation Authority Form from your employer. It should be noted, however, the Fund Administrator cannot be responsible for any delay in the provision of correct documentation from employers or Members.

Tax is legal implication applicable to your superannuation also. Everyone earning above a certain amount has to pay it. You can find out more about Tax on Super here.

There is no need for you to complete any process for this. The Fund Administrator deducts it and remits it on your behalf to the Internal Revenue Commission from your final pay out.

People change jobs for many reasons. Your membership at Nambawan Super may or may not be affected by a change, depending on what you choose to do, but financial security is an important factor in everyone's life, so it should be taken into account when considering a change.

If your new employer is also contributing to Nambawan Super, your status as a Member of the Fund does not change. The name of your new employer will be lodged with the Trustee and if there is any difference in your salary, your contributions will be adjusted accordingly. Members are asked to provide the Trustee with new employment details. Your contributions held in your old account will be transferred to your new account. You must advise the Trustee of the changes yourself through your employer.

In the case that your new employer contributes to a different Authorised Superannuation Fund(ASF), you may opt to keep your Nambawan Super account while simultaneously starting contributions with your new ASF, or there is a process to apply to move your superannuation savings through the process to transfer Superfunds.

You have worked hard and saved through the superannuation scheme to ensure your financial security in retirement. It is time to enjoy life. it is also time to make one of the most important decisions of your life: What to do with your savings. Members are strongly advised to bear in mind that the retirement benefit may well be the last opportunity to have money coming in regularly, to look after you and your family so make careful choices to use the money wisely, by reinvesting into a Retirement Savings Account.

To access your savings, you will need to complete a Separation Authority Form that both you and your employer will need to sign. After reviewing the application to ensure all documentation is supplied and correctly filled, this form and supporting documents are then sent to the Fund Administrator through your nearest Nambawan Super Branch or Call Centre.

You receive the total of your contributions, plus interest, plus your employer's contributions and interests, less superannuation tax. This will be paid to your nominated bank account in a lump sum, or can still remain with the Fund and earn interest through a Retirement Savings Account (RSA).

It is important to understand if an RSA is suitable to your retirement needs, you can book a Retirement Counselling session through our online form to speak to one of our experienced retirement counsellors about planning your retirement.

One of our online resources to help you with projecting how much you will have when you retire is our Super Projection Calculator.

As a Member of Nambawan Super, you can be sure that in the event of your death, your beneficiaries will receive some financial support through your savings contributions. It is very important to officially inform the Trustee who your beneficiaries are and keep these up to date in the case that these or your life circumstances change, so that the right people are looked after and the process for them to access your savings is made much easier.

Anyone you wish. You can have one or a number of beneficiaries and they can be, for instance, your spouse, children, parents, brothers, sisters, or other relatives or even friends.

Your beneficiaries would need to obtain a form, called a Separation Authority Form, from your employer; they complete the form, and then return it to your employer who would lodge it with the Trustee with a copy of the Death Certificate and other required documentation. Benefits are then calculated and paid by the Trustee according to the nominated beneficiaries listed on your account.

The Trustee would determine and pay your next of kin. Where no next of kin are identified the Trustee would pay the Public Curator who than has to try to decide who should be your beneficiary. That could take a very long time.

Make sure your records are kept up-to-date! While you are a Member of the Fund, you may change your personal circumstances. You may get married, divorced, your spouse may pass away, or you may have new children you want to ensure are included as beneficiaries. Please advise the Trustee every time your personal circumstances change by completing a Member Detail Update Form and lodging it at your nearest NSL Branch. Otherwise, your account records will not be up-to-date and that makes the beneficiary claim process much more difficult for your loved ones.

If you wish your new spouse to be one of or become your sole beneficiary, you must complete a new Member Details Update Form so your records with your Superannuation account can be updated.

 Yes, but ensure that you provide the Trustee with a list of their names and personal information such as date of birth and detail what percentage portion of your entitlement they are to receive.

If you decide your ex-spouse should no longer be the beneficiary to your superannuation savings if anything were to happen to you, just like the process of adding beneficiaries, you can also complete a new Member Detail Update Form to remove beneficiaries. Although it is strongly recommended that you have at least one nominated beneficiary at all times.

No it isn't. Superannuation schemes are not like Bank Accounts from which you can withdraw savings at any time. That would defeat the purpose of these savings being a provision to support you financially when you finish work, as they were designed to do when the legislation was put in place. Members do, however, earn interest on their money just like they do on savings accounts.

 No. Superannuation Contributions cannot be charged or used as security for a loan.

No. Your superannuation savings account is not like a bank account. Members are, however, are able to establish savings accounts at other financial or savings & loans institutions that offer those facilities to customers with proven savings records, like Nambawan Savings and Loans Society.

Generally no, but one of the special product features the Fund offers is a scheme which allows Members who qualify to apply for a Housing Advance.

A Member may, after five years contribution, apply to withdraw 100% of the Member's contribution portion of their superannuation savings. They cannot access the employer contribution component, or the interest portion. Read more about eligibility to apply for a Housing Advance here.

The supplier, such as the builder of a new home, or the owner of an existing one for purchase, is paid directly by the Trustee. Advances may not be paid directly to the Member.

Under the current legislation there is a requirement to progressively repay the amount advanced. Additional contributions need to be made at the minimum rate of 2% to repay the advance. This additional 2% contribution is on top of your normal 6% contributions.

The amount advanced under the scheme is deducted from the total benefit entitlements.

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