Vanuatu National Provident Fund

Vanuatu provident fund sub-centre to bring Government services closer to the public

He made the comment at the groundbreaking ceremony for the new sub-centre.

Mr Archary thanked the landowners and partners including National Bank of Vanuatu (NBV) and Government officials present yesterday (Thursday)

He also acknowledged the former Chairmen and GMs of the fund for their contribution.

During the ceremony, an agreement was signed between Rainbow Estate (representing land owners) and VNPF to enable the transfer of the land asset.

VNPF and Education Ministry MOU to address financial barriers to education

The superannuation fund intends to support the Government’s policy on Education as it falls in line with VNPF’s Vision under its Strategic Plan 2018-2022; ‘Honestly Serving our Members throughout their lifetime and when needed’.

Under the terms of the MOU, a Members’ Education Support Scheme (MESS) will be set up and administered by a dedicated team of VNPF staff, in collaboration with the MOET.

The MOU is not binding, rather it is an understanding for the two parties to work together to ensure the smooth running of the loan scheme.

Vanuatu volcano victims can now claim part of super savings

The government announced in May that people on Ambae could claim some of their savings in the super fund to help with rebuilding their lives at new locations.

But the Fund has only now completed the paper work to allow this to happen.

Mr Achary said they first had to make sure the procedures were in order.

He said he knows that these sorts of privileges can be abused by members, but says he has a powerful team in place to make sure it doesn't happen.

 

     

Vanuatu super fund allows partial withdrawals

The Daily Post newspaper reports the fund's new general manager, Parmod Archery, saying that in the absence of a pension scheme such a move helps retirees to spread their savings over multiple years.

He said he had seen cases in his native Fiji where retirees emptied their savings and spent it all in less than a year.

     

Vanuatu Provident Fund declares 2% interest for members’ savings

The 2% increased interest for this year follows a 1.5% increase at the end of last year.

The increase has been confirmed by VNPF General Manager, Parmod Achary.

While making the announcement, Achary said it is a good sign and in line with his forecast and goals.

He said he is happy that he and his Management Team are putting VNPF in the place where it belongs, with a strong management and transparency and accountability and prudent management of funds.

Vanuatu opposition calls for independent action on VNPF report

A commission of inquiry into the Vanuatu National Provident Fund was launched last year and its final report was recently leaked on line.

The newspaper the Vanuatu Daily Post has published an overview of these findings.

Several people are implicated in the report but some of this content is potentially defamatory.

The commission found that the fund had been poorly managed and suffered from interference from a board unqualified and ill-suited to the task.

Govt launches Commission of Inquiry into allegation of VNPF mismanagement

Mr Pikioune said a total of VT4-billion and 4-hundred million (VT4.4 billion) worth of investments during 2007 – 2014 period, will be investigated.

This figure represents 22 percent of VNPF’s total investment.

The five-member Commission was appointed by the Minister for Justice. They include University of the South Pacific lecturer, Anita Jowitt, as chairperson, lawyer John William Timakata, accountant Kathy Abel Nako, Tony Nalipus as assessor, and Andrew Kausiama in secretary of the Commission.

The committee has at least two-months to complete their task.