NPF to assist its members
The Solomon Islands National Provident Fund, SINPF, has offered to assist its members as a way to assist the government in its efforts to counter the likely effects of COVID-19 if it enters the country.
A consultation between the Minister of Finance and Treasury, Harry Kuma and the SINPF Board has resolved to offer a sum of 5- Thousand dollars to members under the age of 50 years who are temporarily laid off and or repatriated home due to the effects of COVID 19.
Members whose balances are below 5- Thousand dollars are to be paid 50 percent of their balances.
Mr. Kuma led a delegation of State-Owned Enterprises, senior managers, on a Courtesy Call on Prime Minister Manasseh Sogavare yesterday.
During the Courtesy call, Mr. Kuma told Mr. Sogavare, that SINPF Members who are laid off due to the effects of COVID 19 will be waivered the 3 months waiting period and be paid One- Third of their contribution or in full, if the balance is less than 10- Thousand dollars.
The remaining balance will be paid according to the SINPF schedule.
Mr. Kuma said members who are aged 50 years and above can withdraw up to 20 percent of their contributions should they wish to or withdraw the full balance.
SINPF members wishing to be part of this member support can make applications as from the 1st of April to the end of June.