By the 1st of December, all superannuation contributions to NASFUND will be fully automated.
This fulfils a key focus area that the Board and management of NASFUND had set out to achieve this year.
Through its new fund manager, Employers, as well as employees who contribute to NASFUND will now be able to view their superannuation account details through an online portal.
According to NASFUND Chief Officer Member Services, Charlie Gilichibi, this advancement now allows employers to update employee payments, as well as allowing employees to check their superannuation contributions in real time.
“The rate of employers registering for the Employer Online Portal is progressing well,” Gilichibi said.
NASFUND is the first superannuation fund in Papua New Guinea to use this cloud-based technology, which is on par with other superannuation funds in first-world countries.
Employees as well can view their superannuation account details in real-time.
They can download their statements, check contribution history, download housing advance eligibility letters or update their contact information through this channel instead of visiting a branch.
These services are complemented by the NASFUND Smartphone App.
In addition to the portal access, NASFUND is also looking to increase efficiency at its branches, with ticketing system to be rolled out throughout its branch network.