New opportunities created for superannuation

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Nasfund Chief Executive Officer Ian Tarutia says COVID-19 has created opportunities for superannuation funds to look at benefits and services such as housing and health cover or facilities for members.

Mr Tarutia stating, COVID-19 prevention and containment requires distancing from one another, which is a challenge for Papua New Guineans as the majority do not own their own homes and in most coases live with extended family. The inadequacies of our current health system as COVID-19 transmission rates escalate throughout the country also play a factor.

Providing assistance to members with quality affordable homes rather than releasing retirement savings for housing will encourage first-time home buyers.

Nasfund is also making investments into the health sector to ensure members and their families health and wellbeing is provided for through their savings.

Mr Tarutia said these are issues he will be taking up with his Board, industry colleagues and the regulator Bank of Papua New Guinea this year.

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