Nasfund Superannuation is strengthening its focus on superannuation education, governance and service delivery as part of its long-term strategy to better support members.Â
Chairman Christopher Elphick said improving membersâ understanding of superannuation remains a key priority for the fund.
He said Nasfund has been advocating for greater superannuation literacy, helping workers better understand how retirement savings work and why it is important to plan for the future.
Mr. Elphick said the fund has been working with the Centre for Excellence in Financial Inclusion to support financial education initiatives in Papua New Guinea.
Through this partnership, Nasfund has contributed to the development of financial education material aimed at strengthening financial awareness within the countryâs education system.
He said these initiatives are designed to ensure that future generations have a better understanding of savings, financial planning and retirement security.
âSuperannuation education helps members understand how their savings grow and the role it plays in their long-term financial security,â Mr. Elphick said.
In addition to education programs, the fund has also focused on improving its internal systems and governance frameworks.
Mr. Elphick said Nasfund has been strengthening its data governance and service delivery systems to better understand member needs and improve the services provided.
He said the improved use of data is helping the organization gain better insights into member behaviour and deliver more personalized services.
âThese improvements allow us to engage with members more effectively and enhance the overall service experience,â he said.
The initiatives form part of Nasfundâs three-year strategic plan, which focuses on portfolio optimization, stronger governance, improved service delivery and better use of technology and data.
Mr. Elphick said these priorities will help ensure the fund continues to operate efficiently while protecting and growing the retirement savings of its members.
