About the National Provident Fund

The Fund is established by the Solomon Islands National Provident Fund Act 1973

• Commenced operations on 1st October 1976

• Classified as a defined contribution fund

  • • Members legally are to contribute a minimum of 5% and multiple of 10% on voluntary basis

    • Employers legally are to contribute 7.5% on behalf of his/her employee

    • Board mandated to declare a minimum statutory crediting rate of 2.5% to members on or before end of September (SINPF Amendement Act 2018)

  • In 2003, SINPF is deemed a financial institution under the Financial Institutions Act (FIA) and subject to prudential reviews by the Central Bank of Solomon Islands (CBSI)

  • Financial year end 30th June

Solomon Islands National Provident Fund comes under the responsibility of the Minister of Finance. By virtue of the Solomon Islands National Provident Fund Act, the Minister has the overall authority concerning the affairs of the Fund.

The Board Members (Trustees) has the authority in areas of policy and decision-making on matters concerning the affairs of the Fund. The establishment and constitution of the Board is determined by the Act. The Minister of Finance appoints these Directors, for a term of 3 years or less at the discretion of the Minister. The maximum number of directors required by the SINPF Act to the Board is eight (8).

The General Manager, CEO shoulders the highest authority concerning the general administrations and decision-making in the running the day-to-day affairs of the Fund. The General Manager is appointed by the Board of Directors as provided by the Act purposely for the efficient charge of the Board duties and functions. By virtue of the responsibility vested on the CEO, to ensures proper implementation and compliance to policies and procedures set by the Board. The Management is directly responsible to the Board.