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.

The Superannuation Act is designed to encourage and regulate retirement savings, ensuring that individuals have a financial safety net when they retire and that superannuation funds are managed responsibly and transparently.

Evolution of the Superannuation Act

Superannuation as we know it today, started as a pension scheme on 8 June 1962 under the Papua and New Guinea Retirement Benefits Act 1960, which allowed public servants to access retirement benefits. The Act then underwent several amendments and reiterations which led to its current form as the Superannuation (General Provision) Act 2000

Superannuation Act

The 1960 Act remained in effect until 23 December 1971 when it was replaced by the Public Officers Superannuation Fund Ordinance 1971. The 1971 Ordinance saw the establishment of the Public Officers Superannuation Fund (POSF), which was the predecessor to the Nambawan Super Fund.

The 1971 Ordinance allowed for certain officers and employees of the Public Service, members of the Police Force and approved authorities to access Superannuation services. However, married women were excluded from receiving Superannuation or retirement benefits from the inception of the 1960 Act up until 1988 when the 1971 Ordinance was amended.

In 1990, the Public Officers Superannuation Fund Act 1990 was introduced which replaced and merged all previous acts and ordinances. This 1990 Act made superannuation compulsory for all officers and employees of the Public Service without discrimination.

Later in 2000, the Government of Sir Mekere Morauta oversaw sweeping changes to the financial industry, including in the Superannuation space. This led to the introduction of the Superannuation (General Provision) Act 2000, which established the Central Bank of Papua New Guinea as the regulator of the Superannuation Industry. The 2000 Act also put in place measures to ensure accountability and the transparent and responsible management of members’ retirement savings by all stakeholders operating within the Superannuation Industry.

What can you find in the Superannuation Act?

The Superannuation (General Provision) Act 2000 is comprised of eighteen (18) Parts, one hundred and forty (140) Sections, and nine (9) Schedules. The 2000 Act is also accompanied by and should be read in tandem with its four Amendments (2002, 2004, 2007, and 2013) and three Regulations (2002, 2004 and 2008).

The 2000 Act in all its parts aims to establish a legal framework for the regulation and administration of Superannuation Funds in Papua New Guinea, with a particular focus on these key areas:

  • Mandatory Contributions: The 2000 Act requires both Employers and employees to make regular contributions to the Authorised Superannuation Funds (ASFs) of PNG. These contributions are designed to accumulate over time and provide financial support to individuals when they retire.
  • Investment and Management: It outlines rules and guidelines for the investment and management of superannuation funds to ensure they are prudently managed, and funds are invested in a manner that maximizes returns while minimizing risks.
  • Benefit Payouts: It governs the conditions and procedures for the payout of benefits to members upon reaching retirement age or in certain qualifying circumstances, such as disability or death.
  • Regulation and Oversight: It establishes a regulatory authority responsible for overseeing the superannuation industry, ensuring compliance with the law, and protecting the interests of members.
  • Taxation: The act may also address tax-related matters concerning superannuation contributions, withdrawals, and investment income.

Learn more

Got a question