Samoa National Provident Fund

Samoa National Provident Fund launches new mobile app

The official launch of the app was held at Taumeasina Island Resort on Monday.

The total cost of the project was NZD 156,000.00 which took a little over three months to complete.

The project was fully funded by the United Nations Development Programme under its One UN Social Protection for Resilience Joint Programme.

The Programme aims to strengthen the availability and accessibility of social protection services, information, programmes, and benefits, also through the utilization of digital information management systems and mobile technology.

Samoa National Provident Fund announces interim dividend

An interim dividend of two per cent to the value of $19 million will be paid out to help members with the inflationary pressures the country is currently facing SNPG Management said in a statement today.

The cash payments will be made available to members exclusively via the provident fund’s online portal between 23 January and 17 February 2023.

The interim dividend was announced by Minister of Finance Mulipola Anarosa Ale Molioo in Parliament last month.

 

 

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Digicel Samoa launches MyCash partnership with Samoa National Provident Fund

Digicel’s MyCash mobile wallet (formerly known as Digicel mobile money) lets Samoans keep money stored safely and securely when they deposit money at any MyCash Agent or Digicel Store, receive remittance from overseas, buy Top Up, pay for shopping with contactless payment, transfer money to another MyCash user and make a secure bill or business payments.

The services that you can now access through this partnership include;

Samoa National Provident Fund announces 3.2 per cent dividend with $26 million cash payout to contributors

The announcement was made by Minister of Finance, Mulipola Anarosa Ale Molioo and Finance and the NPF board.
The cash payout of 3.2 per cent is $26 million in total.
A further 2 per cent payout will be cashed in December 2022, worth $16.27million which is the remaining dividend of the 5 per cent cash payout in April this year.
The other 3 percent was paid out in April 2022 with $24.4million.
The altogether amount of the 8.2 per cent cash payout for this whole year including the remaining 2 per cent in December is $66.7million.

Samoa National Provident Fund makes Golden Jubilee special payment

Members will receive a payment of 5 per cent interest in cash for 2022 valued at $41.64 million Tala.

Three per cent to be paid in cash is available via the online portal only from today.

The last date to redeem the three per cent payment is 27 May.

Any unredeemed funds will be credited to member contribution accounts.

The other two per cent will be paid to members in December.

Senior citizens registered with the Senior Citizens Benefit Fund will receive a special one-off gift of $50 Tala per person.

Samoa National Provident Fund delays increase of minimum contributions

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.

Samoa National Provident Fund declares 8 per cent interest

According to the SNPF board, the interest rate is equivalent to the value of $60 million tala.

The board has resolved to pay out 50% of this year’s interest declared in cash as part of its enduring commitment to the wellbeing of SNPF members.

$30 million (4.0%) will be paid in cash to members tomorrow, 1 July 2021 (ends 27th August 2021).

The remaining $30 million (4.0%) will be credited to members’ contribution accounts as well tomorrow, 1 July 2021.

     

Photo file source SNPF/Facebook

SNPF increases minimum contributions to ten per cent

Parliament had approved the increase while passing the NPF Amendment Act 2019.

 “The Fund will enforce compliance to the 10% minimum member and employer contribution from 1 January 2022.”

A three year charted scale of the incremental increase of 1 per cent per annum showed that the employee and employers’ contributions in 2019 was 8%, 9% in 2020 and the 10% this year.

Samoa National Provident Fund announces dividend payout

The payout period will continue until Christmas eve.

A total of $10.6 million tala will be paid out in accordance with the dividend declared by the Fund in June 2020.

Any unredeemed dividends after this period will be credited directly to the members’ contribution accounts.

All eligible members willing to receive their dividend are urged to visit the following locations from 9am to 4pm;

• SNPF Main Office, Apia – Levels 1, 3 and 4.

• SNPF Vaitele Branch

• SNPF Salelologa Branch.

 

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Samoa and Fiji sign agreement supporting collaboration between UTOS, UTOF and SNPF

 

According to UTOF, this is an historical event as it extends its services to Samoa.

Fiji’s Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum formalised the agreement with Samoa's Government Wednesday afternoon in Nadi.

Sayed-Khaiyum and Samoa's Minister for Finance Sili Epa Tuioti had a fruitful discussion addressing a number of investment opportunities and renewed calls to revamp diplomatic and trade relations once the borders have opened up.