VANUATU RETIREMENT FUND EYES 8 PERCENT RETURN

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Fund now pays 5.2 percent interest

ByLen Garae The Chairman of the Board of Directors of the Vanuatu National Provident Fund Benjamin Shing has said the minimum 3 percent dividend interest limit that is supposedly paid to a member’s saving is no longer used today.

Fund increased it to 4 percent in 2006 and it is now paying 5.2 percent.

"The target of my Board is that by the end of our term we want to see it increased to 8 percent. While some say it is far too high but let us dream like Martin Luther King once said, and set the target at 8 percent. If we don’t meet it but go as far as 7 percent; at least we have moved further up somewhere," he said.

The Chairman of the Board made the clarification to assure members who were concerned that the Fund might still be paying 3 percent dividend interest to their savings.

He made the clarification in his address at the beginning of the first ever Public Forum to be organised by the VNPF since its set up in 1986, to allow the employers and workers to address their concerns to the Board and ask questions about how their savings are invested.

It was held in the Chief’s Nakamal on Wednesday from six o’clock to ten o’clock in the evening this week.

The VNPF Board consists of Keith Hango (representative of Employers), Ephraim Kalsakau (representative of Workers Union), Jerol Ala (representative of Public Service Union) and Paul (representative of the Government and Manager of Fund).

The Chief Executive Office of the Fund is Anniva Tarilongi.

PORT VILA, Vanuatu (Vanuatu Daily Post, Aug. 7, 2011) – ByLen Garae

Chairman Shing’s Board eyes 8 percent dividend interestThe Chairman of the Board of Directors of the Vanuatu National Provident Fund Benjamin Shing has said the minimum 3 percent dividend interest limit that is supposedly paid to a member’s saving is no longer used today.

The Fund increased it to 4 percent in 2006 and it is now paying 5.2 percent.

"The target of my Board is that by the end of our term we want to see it increased to 8 percent. While some say it is far too high but let us dream like Martin Luther King once said, and set the target at 8 percent. If we don’t meet it but go as far as 7 percent; at least we have moved further up somewhere," he said.

The Chairman of the Board made the clarification to assure members who were concerned that the Fund might still be paying 3 percent dividend interest to their savings.

He made the clarification in his address at the beginning of the first ever Public Forum to be organised by the VNPF since its set up in 1986, to allow the employers and workers to address their concerns to the Board and ask questions about how their savings are invested.

It was held in the Chief’s Nakamal on Wednesday from six o’clock to ten o’clock in the evening this week.

The VNPF Board consists of Keith Hango (representative of Employers), Ephraim Kalsakau (representative of Workers Union), Jerol Ala (representative of Public Service Union) and Paul (representative of the Government and Manager of Fund).

The Chief Executive Office of the Fund is Anniva Tarilongi.

Chairman Shing’s Board eyes 8 percent dividend interestThe Chairman of the Board of Directors of the Vanuatu National Provident Fund Benjamin Shing has said the minimum 3 percent dividend interest limit that is supposedly paid to a member’s saving is no longer used today.

The Fund increased it to 4 percent in 2006 and it is now paying 5.2 percent.

"The target of my Board is that by), Jerol Ala (representative of Public Service Union) and Paul (representative of the Government and Manager of Fund).

The Chief Executive Office of the Fund the end of our term we want to see it increased to 8 percent. While some say it is far too high but let us dream like Martin Luther King once said, and set the target at 8 percent. If we don’t meet it but go as far as 7 percent; at least we have moved further up somewhere," he said.

The Chairman of the Board made the clarification to assure members who were concerned that the Fund might still be paying 3 percent dividend interest to their savings.

He made the clarification in his address at the beginning of the first ever Public Forum to be organised by the VNPF since its set up in 1986, to allow the employers and workers to address their concerns to the Board and ask questions about how their savings are invested.

It was held in the Chief’s Nakamal on Wednesday from six o’clock to ten o’clock in the evening this week.

The VNPF Board consists of Keith Hango (representative of Employers), Ephraim Kalsakau (representative of Workers Unionis Anniva Tarilongi.

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