Prime Minister Visits Nasfund, Commends Strong Returns and the Reform Foundations Supporting Member Growth

The Prime Minister of Papua New Guinea, the Honourable James Marape, MP, today visited the National Superannuation Fund (Nasfund) Head Office in Port Moresby, where he met with the Board, management and staff of the Fund and commended the institution’s role in delivering strong outcomes for Papua New Guineans.

The visit follows Nasfund’s recent announcement of 13 per cent member returns, reflecting continued strong performance built on sound governance, disciplined cost management, balanced investment portfolio and long-term institutional reforms in the superannuation sector.

During his address to staff, the Prime Minister acknowledged the importance of strong national institutions in safeguarding workers’ savings and highlighted the role of policy and regulatory reforms over time in laying the foundation for today’s results.

The Prime Minister noted that earlier reform efforts in the superannuation and financial services sector, including those initiated during the reform era under former Prime Minister Sir Mekere Morauta strengthened accountability, transparency and governance, enabling institutions like Nasfund to operate independently and in the best interests of members.

“These foundations have allowed our national superannuation funds to focus on long-term member outcomes, sound investments and responsible growth,” the Prime Minister said. 

Speaking on behalf of Nasfund, Chairman Mr. Christopher Elphick said the Prime Minister’s visit was an important acknowledgement of the responsibility borne by the Fund and the people who serve its members daily.

“Nasfund is entrusted with protecting and growing the retirement savings of more than 700,000 Papua New Guineans,” Mr Elphick said. “This is a responsibility we take very seriously, and today’s visit is a strong encouragement to our Board, management and staff to continue upholding the highest standards of governance and service.” 

Mr Elphick said Nasfund’s continued performance reflected collective effort over time, built on robust institutional frameworks and the dedication of its people.

“This Fund stands on strong foundations established through years of reform, oversight and careful stewardship,” he said. “The outcomes we see today are the result of that discipline, combined with the commitment of our staff to act in the best interests of members.”

Chief Executive Officer, Rajeev Sharma said the recently announced 13 per cent returns demonstrated Nasfund’s focus on long-term value creation and disciplined cost management as well as investment decisions.

“Our priority remains to deliver sustainable growth for members while maintaining confidence, transparency and resilience in a changing economic environment,” the CEO said. “We are proud of our team and grateful for the Prime Minister’s engagement with our staff today.”

During the visit, the Prime Minister met with members of the Nasfund Board of Directors, Executive and staff.

Nasfund reaffirmed its commitment to protecting members’ savings, strengthening governance, and contributing to Papua New Guinea’s broader economic development through responsible investment and institutional stability.