The Samoa National Provident Fund has delayed the implementation of the 10% minimum member and employer contribution until next year.
The new rate was to have come into effect as of 1 July 2021.
However, in a statement yesterday SNPF said, “That having considered the ongoing ramifications of the global Covid-19 pandemic on our national economy and the ability of certain businesses to make ends meet - The Fund has again decided not to enforce compliance to the 10% minimum member and employer contribution until 1 July 2022.”
“This does not affect those who have already changed or are willing to change earlier to the 10% minimum,” the provident fund said.
Parliament passed the National Provident Fund Amendment Act 2019 increasing the minimum member and employer contribution.
Photo file SNPF Caption: Samoa National Provident Fund building in downtown Apia