Some lucky contributors to the Samoa National Provident Fund will be sharing $ST53 million amongst themselves at the end of the month.
This is for payment of a 10% interest on contributions for the financial year ending June 30, 2018.
Members who have withdrawn their contributions will not be eligible for the financial bonus.
In a statement, SNPF said this exceptional result is in part due to realization of gains from the Fund’s offshore investments which has proven very profitable in the past 12-18 months.
“The Fund was able to repatriate $12.2 million tala back into the country in preparation for this year’s interest declaration,” said the statement.
Members who do not opt to take the cash payment portion will have these funds credited back to their accounts by October 31, 2018.
The statement credits a combination of diligence and hard work on the part of the Board and Management and Staff “in the enduring endeavor to place our members’ interests first”.
“In the coming financial year God willing, the Fund hopes to revamp existing schemes and pursue new robust investment opportunities both locally and offshore to build on this legacy of success and further expand the benefits to our members,” said the statement.
