Finance Ministry to bring new SINPF reform Bill to Parliament

By Mary Manelegua

The Ministry of Finance and Treasury will be presenting a new Solomon Islands National Provident Fund (SINPF) reform bill to Parliament before the end of 2026.

Minister, Hon. Trevor Manemahaga announced this during the declaration of the new crediting rate for NPF members this week.

He said this is one of his  Ministry’s’ priorities.

“It has been a while now the New SINPF Bill has been progressing, so it is my commitment as the Minister of Finance that I will bring the new NPF reform Bill to the parliament, ” he stated.

The Minister further emphasized that the new SINPF legislation will modernize the fund’s operations, enabling members to accumulate wealth for retirement and address their short-term financial needs.

“It is recognized by the government that reforming the SINPF law has been long overdue and we are progressing to make this happen and transform SINPF to a new modern retirement fund, ” he added.

The Private Sector Development Initiative (PSDI) of the Asian Development Bank, with support from the Australian Government, is currently drafting the new bill in collaboration with the Ministry and the SINPF Board.

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