THE future of superannuation in the country depends on informed decisions, disciplined savings habits, and a commitment to long-term financial wellbeing, according to Nasfund.
Chief executive officer Rajeev Sharma said during the Nasfund FM100 talkback show in Port Moresby this week that superannuation was not just a compulsory contribution but a lifelong financial asset capable of transforming retirement outcomes when managed well.
He said voluntary contribution was one of the most effective ways to boost account growth, as workers benefitted from compound interest which build steadily on top of the employer-employee contributions.
Sharma provided clarity on the governance of the superannuation system, assuring members that strict oversight and risk management measures are in place to protect their savings.
He said that Nasfund’s expanding digital service ecosystem including the Nasfund App, e-Branch, and enhanced social media presence was providing access to information and services easier and more transparent.
“Practical planning tools, such as the retirement calculator, allow members to model their future savings needs, while Nasfund’s new artificial intelligence-powered chatbot offers quick, reliable responses to member queries,” he said.
“With 22 branches complemented by these digital channels, Nasfund continues to improve nationwide service accessibility.”
Sharma urged Papua New Guineans to start saving early.
“Time is the strongest driver of compound growth. Avoid unnecessary withdrawals, protecting your balance today secures your future,” he said.
“Increase voluntary contributions – even small, regular top ups can lead to substantial long term gains.
“With transparency, education and digital innovation driving its strategy, Nasfund continues to deepen understanding of superannuation and foster a stronger culture of long-term saving across PNG.”