Solomon Islands Council of Trade Unions (SICTU) Welcomes 8 Percent SINPF Dividend Announcement

National Secretary of the Solomon Islands Council of Trade Unions (SICTU) Adrian Tuhanuku warmly welcomes and acknowledges the announcement this afternoon by the Honourable Minister of Finance and Treasury of an 8% dividend for members of the Solomon Islands National Provident Fund (SINPF).

This declaration is a significant outcome for the hard-working members and contributors of the SINPF, and SICTU extends a profound and sincere thank you to the SINPF Chairman, the entire Board, and the dedicated staff.

Their relentless hard work and strategic management have directly resulted in this positive announcement, delivered in the face of considerable economic challenges throughout the past year.

We also extend our gratitude to all SINPF subsidiaries. The profits generated by your operations this year are the foundation of this dividend. Your collective success in navigating a difficult global and local economic landscape is commendable and has directly benefited the workers of the Solomon Islands.

SICTU acknowledges that while many workers may have held expectations for a higher return, we recognise that this 8% is a solid achievement. It is crucial to understand that a portion of this year’s profit is being strategically reinvested to fuel the SINPF’s future growth.

The correlation is clear and proven: more strategic investment means a stronger fund, which in turn leads to higher dividends in the future, as evidenced by the historical performance and today’s announcement.

We must also specifically thank the Minister of Finance and Treasury for his intervention and advocacy in ensuring that the announced 8% is an improvement upon the original recommendation. This demonstrates a shared commitment to maximizing returns for SINPF members.

SICTU stands in support of the SINPF’s growth strategy. We look forward to a profitable year ahead for the Fund and its subsidiaries. We are confident that continued prudent investments will not only strengthen the national economy but will also sow the seeds for increased annual dividends for all workers in the years to come.

The Council encourages all members to continue their support for the SINPF, which remains a cornerstone of financial security for Solomon Islanders.

-SICTU Press Release