RISING urban migration in major centers like Port Moresby, Lae, Mt Hagen, and Kokopo has prompted super fund Nasfund to reintroduce its virtual member education sessions this August.
The free online sessions, running throughout the month, focus specifically on the superannuation fund’s Housing Advance product.
According to recent campaign data, the initiative has seen strong engagement, with 63 percent of participants requesting longer discussions and additional resources.
While the digital platform guides members through eligibility requirements and documentation, the interactive sessions have highlighted ongoing frustrations with the current legal framework governing superannuation in Papua New Guinea.
Members frequently raise concerns over existing restrictions such as the limit of two housing advances and caps restricting a second advance to the amount of the first.
Nasfund Chief Executive Officer, Rajeev Sharma, who also serves as President of the Association of Superannuation Funds of Papua New Guinea (ASFPNG), said digital innovation must be paired with modernized legislation.
“The feedback we are getting from these virtual sessions directly mirrors the concerns raised by members right across the industry,” Sharma says.
“We strongly support ASFPNG’s call for the government to prioritize these long-standing reforms. The industry stands ready to work collaboratively with the government to implement meaningful changes that improve member outcomes.”
Addressing regulatory limitations, Sharma explained, “That is why we conduct sessions not only online but as awareness to our members, Nasfund is an authorised superannuation fund governed by the Superannuation Act of 2002.”
Nasfund Head of Marketing and Stakeholder Engagement, Melanie Lavaki, says leveraging technology has successfully expanded the fund’s reach and boosted financial literacy efforts.
“Reintroducing these virtual sessions has increased awareness across all our communication channels,” Lavaki said.
“Our branches remain crucial to how we operate, but these online sessions complement our physical engagements perfectly.”
The fund is encouraging members interested in the Housing Advance product to join the upcoming virtual sessions or contact its member service team for further guidance.
