The Trustee Board of Nambawan Super Limited (NSL) congratulates the PNG Chiefs on the recent launch of their official logo and jersey. In line with our unwavering commitment to transparency, the Board welcomes the opportunity to clarify the nature, governance, and specific commercial objectives behind our partnership with the franchise.
NSL is now the Official Superannuation Partner for the PNG Chiefs. This commercial partnership is not an extra financial burden; it is a deliberate, measured allocation of our existing operational expenditure designed to deliver concrete commercial outcomes:
• Driving Down Costs: Expanding our membership base increases the total pool of investments, driving down operational costs per individual Member and per Kina invested.
• Expanding Membership: The partnership targets aggressive growth across private sector employers, small and medium enterprises (SMEs), and self-employed Papua New Guineans.
• Boosting Financial Literacy: Leveraging the high profile of PNG Chiefs players will drive national campaigns on financial literacy, fostering a stronger savings culture among young citizens.
Public servants and the State remain the absolute foundation of Nambawan Super. The Board deeply values its long-standing partnership with the Government, including ongoing joint efforts regarding the State’s outstanding superannuation obligations.
However, as a prudent Trustee, the Board must ensure the Fund’s long-term stability does not rely on any single employer group. Broadening our contribution base via the private and informal sectors strengthens resilience for all existing Members while supporting the national goal of extending retirement savings to more citizens.
Recent public commentary has viewed this sponsorship in isolation. The Board reassures Members that this initiative is funded entirely within the existing, approved operating budget through a strategic reallocation of resources. No additional fees or costs have been introduced. The Board remains fiercely focused on driving internal cost efficiencies across all facets of the Fund.
As a leading financial institution in Papua New Guinea, NSL takes governance and the protection of retirement savings with the utmost seriousness:
• Independent Board Decision: This commercial partnership was approved via standard internal governance processes, based strictly on the best interests of our members.
• Regulatory Alignment: The decision remains in strict compliance with the law and our obligations to the Bank of Papua New Guinea (BPNG) as the regulator.
• Performance Accountability: The Board will rigorously review the partnership’s results against agreed membership growth and engagement metrics, reporting all outcomes directly to our members.
Operating transparently and in the absolute best financial interest of our hard-working Members remains at the heart of everything we do.