The minimum contributions are as follows:
- 8% employee contribution
- A matching 8% by the employer
Employees can contribute at any amount higher than the minimum but notice has to be given to NPF in writing. It must be a deduction from every payroll. Lump sum contribution is limited to $2000 a month.
A voluntary member must make a regular contribution with a minimum of $100 to the maximum of $2,000 per month.
Annual Interest on Contributions
The Board is obligated to declare an annual interest which should not be less than 4% p.a. This is calculated on the balance of the 1 day of the financial year and it is normally credited to members’ contribution accounts by the end of the financial year.
For further information contact the Member Services Department at 64800 or email us at email@example.com