SINPF Conducts Employers Seminar
The Solomon Islands National Provident Fund conduct one day seminar on the 18th of June for employers at the Anglican Church Hall in Honiara.
Speaking at the seminar the Assistant Manager Members Services (AMMS) Jairus Hiele said that the intention of this seminar is for SINPF to cultivate a good relationship with employers, educate them to understand better their statutory obligation as stipulated in SINPF Act.
“One of the statutory obligations of employers is to ensure their employees are registered with NPF and their employees NPF monthly contributions are paid within allowable time to NPF” he said.
Mr. Hiele said it is mandatory as prescribed under SINPF Act that every companies operated in Solomon Islands must oblige to registered with NPF and pay their employees’ contribution. Only diplomatic officers are exempted whom are covered under diplomatic indemnity.
He said failure by employers to pay NPF contribution will lead to surcharges, a late penalty fee enforced for none compliance. “I call on every employer if you want to avoid surcharges you must comply to pay your employees contributions on time.
“It is important to have such seminar to interact with employers, because through these interactions SINPF would be able to collect views and recommendations to better serve our good employers and members” AMMS said
He further explains SINPF is a sole Superannuation Fund in the country. It has statutory obligation to collects employee’s contribution from their employers, manage it through its investments and in return pay annual interest to its members. This help grows members retirement savings to assist when they are retired from formal employment.
Attending the seminar were representatives from various employers particularly the logging sector, media organization, foreign and local construction companies, entrepreneurs, security firms and faith base organizations.
Mr. Hiele said the SINPF was established from a motion moved by the late Anthony Saru on 27th November,1970 under Legislative Council which gave birth to SINPF Act passed on 1973. However, the SINPF came into full operation in 1976 and since its inception the employers start paying NPF contribution and increasing of membership.
Today members are enjoying what late Saru envision to save money for their retirement wealth.
