The Samoa National Provident Fund has declared an interest rate of 8 per cent for the financial year ending 30 June 2021 despite the impact of the global COVID-19 pandemic on the economy.
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