Dear Editor – I was reading in the Solomon Star issue No.6584 on the Thursday last week issue.
Page 11 caught my attention of the news “NPF’s saving schemes for self-employed piloted.”
I write to congratulate the National Provident Fund’s new product mentioned above.
This caters for the self-employed citizens for nation building.
This is an improvement to the products NPF is offering. I as a member of the FUND wish to acknowledge the management and the staff for their tiring work every day.
I appreciate you all for the work well done. Good on you people continue to work hard and you will be rewarded at the close of your day.
This is a call for the board of directors and the general manager.
Now that the Fund is growing to its maturity and acquiring new investments for member’s benefit, I, as a current member/ fund contributor wish to see review for the NPF benefits for members.
Can I kindly ask the NPF directors to make improvement for the benefit of the retired members?
Let me give a scenario for this argument for members’ funds.
The NPF is acquiring a lot of fixed assets that last even if the member is withdrawing his share.
The assets remain throughout the course of the useful life of the NPF operation.
I suggest that NPF should buy a pension to retired members for the use of their contributions.
They should receive a life time pension and after he/she died then the pension can cease up.
As far as I, for one is concern, our NPF should be overhaul for the beneficiaries or for the good of each member’s share.
As far as we can now see, NPF is acquiring a lot of fixed assets and new investments but the poor members receive very low return to his contributions.
If one day I withdraw my share because I am now reaching my retirement age, the assets that NPF acquired with my contributions will still earn income for members who join the fund later.
Whereas I am now disqualify for dividends or pension because I was now retired and not able to give contribution any more.
The NPF should also share the assets for us to make it fair for all contributors.
Example, if the NPF is liquidate later, who will benefit from the sale of these fixed assets?
Hopefully those who are living to that time of the sale and active membership card holders and those who lately join the fund.
Now I call on the Board of Directors to revisit the benefits for members. Can the board please consider this argument for immediate assessing these benefits?
Some members will soon retire and will withdraw their shares and to make it fair for them.
I kindly ask the general public’s comment on this issue, especially the members. Share your views about fund operations.
This company is yours, so please do comment.
Are you now happy with the little return on your money which our NPF gives?