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Member Education, Superannuation
PORT MORESBY: With urban migration putting increased pressure on housing in centers like Port Moresby, Lae, Mt Hagen, and Kokopo, Nasfund has reintroduced its virtual member education sessions this August.
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PORT MORESBY: With urban migration putting increased pressure on housing in centers like Port Moresby, Lae, Mt Hagen, and Kokopo, Nasfund has reintroduced its virtual member education sessions this August. The move underscores the Fund's commitment to digital innovation while proactively responding to member concerns.
Running throughout the month, the free online sessions focus specifically on the Housing Advance product. The digital initiative has already seen strong engagement, with recent campaign data showing that 63% of participants are actively requesting longer discussions and additional resources.
Nasfund Chief Executive Officer Rajeev Sharma, who also serves as President of the Association of Superannuation Funds of Papua New Guinea (ASFPNG), emphasized that the Fund's digital innovation must be backed by practical and modernized legislation.
"The feedback we are getting from these virtual sessions directly mirrors the concerns raised by members right across the industry," Sharma said.
"We strongly support ASFPNG’s call for the Government to prioritize these long-standing reforms. The industry stands ready to work collaboratively with the Government to implement meaningful changes that improve member outcomes."
While the digital platform successfully guides members through eligibility requirements and documentation, it has continually exposed widespread frustrations with the current laws governing superannuation in PNG.
Members frequently question why they are limited to two advances, and why a second advance is strictly capped at the amount of the first.
“That is why we conduct sessions not only online but as awareness to our members, Nasfund is a authorised superannuation fund governed by the Superannuation Act of 2002,” Sharma added.
Nasfund Head of Marketing and Stakeholder Engagement, Melanie Lavaki, noted that leveraging technology is successfully broadening the Fund's reach and enhancing superannuation literacy efforts.
"Reintroducing these virtual sessions has noticeably increased awareness across all our communication channels," Lavaki said.
"Our branches remain crucial to how we operate, but these online sessions complement our physical engagements perfectly."
Members interested in learning more about the Housing Advance product are encouraged to participate in the virtual sessions and engage with the member service team for ongoing guidance.
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