The National Superannuation Fund Limited (Nasfund) has signed a Membership Discount Program (MDP) Agreement with TISA Insurance Group Limited on 9 June 2026, marking the Fund’s first move into the insurance sector under its Membership Discount Program.

The partnership will give Nasfund members access to exclusive savings on a range of insurance products now offered under the newly branded TISA Insurance Group, formerly Capital Insurance Group. Under the agreement, members who deal directly with TISA Insurance can receive a 10% discount on motor vehicles, home, travel, life and funeral insurance.

Nasfund Chief Executive Officer, Rajeev Sharma, said the partnership reflects the Fund’s commitment to delivering value to members beyond retirement savings.

"Our Membership Discount Program is a key part of how we support our members beyond their savings for retirement. This partnership with TISA Insurance marks an important step in expanding the program into essential services like insurance, giving our members more practical benefits and real savings in their day-to-day lives. We are proud to continue growing the MDP to better serve our members."

TISA Insurance Group Limited Group Chief Executive Officer, Jeremy Norton, welcomed the partnership and said it would give Nasfund members greater access to affordable insurance solutions.

He said the collaboration reflects a shared commitment by both organizations to deliver meaningful value, strengthen financial protection, and support the wellbeing of members and their families.

To access the discount, members need only present a valid Nasfund membership card when dealing directly with TISA Insurance.

The addition of insurance to the Membership Discount Program reflects Nasfund’s ongoing focus on offering practical and relevant benefits to members. By expanding the program into essential services, the Fund continues to help members manage everyday costs while strengthening their financial security.

The National Superannuation Fund Limited (Nasfund) is aware of the commencement of legal
proceedings brought by a former employee.

Nasfund firmly denies the allegations made against it and intends to vigorously defend these
proceedings through the appropriate legal process.

As a matter of fundamental principle, Nasfund is entitled to the benefit of established due process
for civil matters and will not be prejudged. The burden of proof rests with the claimant, and
Nasfund is confident that, upon proper examination of all the evidence, the allegations will not be
sustained.

Nasfund is committed to engaging fully and transparently with the court in accordance with its legal
obligations and will present its position in full at the appropriate time and forum.

Given that these matters are now before the court, it would be inappropriate for Nasfund to
comment further on the specific details of the allegations or the evidence at this stage.

Nasfund reassures its members, stakeholders, employees, partners and the public that the
allegations are unfounded and do not reflect our business practices, values, or commitment to our
members and partners.

Nasfund has built its reputation on a foundation of integrity, transparency, and compliance with all
applicable laws and regulations. We remain fully committed to delivering our services without
interruption.

Nasfund asks that the media and the public respect the integrity of the legal process and approach
reporting on this matter with appropriate regard for the presumption of fairness and Nasfund’s right
to have the matter determined by a competent court.

In so far as any media in relation to these proceedings are defamatory, Nasfund and its employees
and directors reserve their legal rights.

Authorized by
Nasfund Chairman, Mr. Christopher Elphick

The National Superannuation Fund Limited (Nasfund) has signed a Memorandum of Understanding (MoU) with New Britain Palm Oil Limited (NBPOL) to strengthen and expand access to superannuation for smallholders and oil palm growers through Nasfund’s Eda Supa product.

Building on an existing relationship that has already seen over 1,300 smallholders onboarded under Eda Supa through NBPOL-supported initiatives, the MoU establishes a clear framework for both organisations to deepen their collaboration. The partnership will focus on onboarding additional eligible growers, promoting a stronger savings culture, and improving access to long-term financial security for individuals working across Papua New Guinea’s oil palm value chain. Under the agreement, the parties will work closely to ensure efficient contribution and remittance processes, while also sharing regular progress updates and coordinating outreach efforts to support member education and onboarding.

A key target of the MoU is to onboard an additional 1,000 smallholders or oil palm growers, further extending formal retirement savings opportunities to Papua New Guineans who may not currently be contributing to an authorised superannuation fund. Over time, the partnership also aims to broaden coverage to workers and growers in key growing regions including Alotau, Ramu and Popondetta.

For Nasfund, the MoU reflects its continued commitment to superannuation inclusion and to creating practical pathways for informal and semi-formal income earners to save for retirement. By leveraging NBPOL’s strong presence within rural and agricultural communities, Nasfund is enhancing its reach and supporting broader national efforts to encourage disciplined, long-term savings.

“This MoU represents an important step in broadening access to superannuation for Papua New Guineans who are contributing meaningfully to the economy but may not always have access to structured retirement savings opportunities,” said Rajeev Sharma, Nasfund CEO.

“We have already seen encouraging progress through our existing partnership with more than 1,300 smallholders enrolled under Eda Supa. Through this renewed commitment, we aim to scale that impact even further bringing more growers into the system and helping them build sustainable savings for their future.”

Over the life of the agreement, Nasfund and NBPOL will continue working together to strengthen awareness, improve accessibility, and ensure more Papua New Guineans understand and benefit from consistent retirement savings.

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The Chairman of the National Superannuation Fund, Mr Christopher Elphick, is pleased to
announce the appointment of Mr Anton Sekum to the Board of the National Superannuation Fund
as a director representing the PNG Trade Union Congress.

Mr Elphick said the appointment follows the successful completion of a rigorous recruitment
exercise and regulatory approval process.

“We are pleased to announce the appointment of Mr Sekum to the Board. He brings extensive
experience in financial risk, public policy and labour advocacy, supported by over three decades of
experience across banking and institutional governance in Papua New Guinea,” Mr Elphick said.

Mr Sekum began his career with the then PNG Banking Corporation (now BSP Financial Group) in
1992 and held various senior roles before exiting in March 2010 as Risk Manager. He later served
as Internal Audit Manager at the National Development Bank and was seconded to the Department
of Treasury as Project Manager for the Asian Development Bank-supported Domestic Debt Market
Development Project.

He has been actively involved in the trade union movement since 1999 and currently serves as
Assistant General Secretary of the Papua New Guinea Trade Union Congress. He has
represented workers on key national platforms including the Minimum Wages Boards, National
Tripartite Consultative Council, National Training Council and Minimum Wage Consultative
Committee.

Mr Sekum holds a Certified Risk Analyst qualification from the American Academy of Financial
Management, an Associate Diploma from the PNG Institute of Banking and Business
Management, and a Postgraduate Diploma from Massey University. He is also certified as a policy
specialist through the International Labour Organization.

Nasfund’s Chief Executive Officer, Mr Rajeev Sharma, said “Mr Sekum’s depth of expertise will
further strengthen the Fund’s ongoing commitment to prudent governance and long-term
sustainability,”.

Mr Elphick in closing, said the appointment reflects the Nasfund Board’s continued focus on
strengthening oversight frameworks and safeguarding the interests of members.

“The National Superannuation Fund remains committed to the highest standards of accountability
and stewardship, and we are confident that Mr Sekum’s knowledge, integrity and leadership will
make a valuable contribution to the Board and the Fund,” he said.

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