Member Guide
Who is eligible to be a Member?
✔ Any person who is employed in Samoa or abroad by an employer having its office in Samoa is required under this Act to be a member and pay contributions.
✔ A person who is not in employment can register as a voluntary member who can pay regular contributions to the Fund. A minimum is set by the Fund from time to time. Those covered under this criterion include Church Ministers, Farmers, Fishermen etc.
Registration
Registration can be done at our main office or any of our office branches. Documentation must be submitted to support your registration.
✔ Birth certificate and ID with your photo.
✔ Marriage certificate (if you want to use the spouses name)
Contributions
The minimum contributions are as follows:
Employee Member
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10% employee contribution
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A matching 10% 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.
Voluntary member
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.
Nomination - In the event of Death Before Withdrawal
It is important for members to make a Nomination with SNPF to assist us in distributing your contributions in the event of death before withdrawal. You can update your nomination as often as you want. In this way, we can distribute your contributions to your preferred loved ones in the event of death.
Nomination form is available for download from the Forms section.
Special Education Fund (EDF)
A member can open a special education Fund with NPF to fund the tertiary studies for the member’s children. You can make regular contributions to this account. It attracts the same interest as the members’ contributions account which is currently averaging at 7% p.a. You can have one account for all your children. Both parents can contribute to this account should they choose to.
The earlier you do it the higher the savings you can accumulate over the years to ensure that your children will and can obtain quality tertiary education. The member can only withdraw for payment of education expenses or when Fund is not needed (all children have completed university).
Options Available When Reaching the Retirement Age of 55 years
When Members reach the age of 55 years they can either
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Make a Lump Sum Withdrawal OR
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Retiree pension for life.
For the latter option, they can receive a fortnightly pension for life. In the event of the retiree pensioner’s death, the spouse will take half the pension for a maximum of 10 years or death or when the spouse remarries. The pension will be funded from 75% of the net contributions (after all loan and other obligations to SNPF). The member will take the 25% lump sum.