The Samoa National Provident Fund have confirmed they will be paying out the last dividend starting 1 December 2022 as announced earlier in the year.
This is the last segment of the payout of 8.2 percent which was given to SNPF members in portion, as part of the fund’s Golden Jubilee year celebrating the 50th anniversary since its establishment.
According to the statement issued on Tuesday, the cash payment will be available exclusively via the SNPF online portal.
“Online portal opens 1 December and closes 23 December 2022. “The dividend will not be available for physical redemption any of our branches at any time.
“Therefore, all members must use their NPF number and password to log in. If you have forgotten your login credentials, please visit any of our branches in person for assistance to re-issue your credentials.”
In June the SNPF declared the issuance of 3.2 percent or $26 million dividends for their member starting the 1 July 2022.
In that statement confirmed a landmark achievement of surpassing a billion tala net assets for the first time at that time.
In accordance with Section 36 of the SNPF Act 1971, the board and management have resolved to declare a final total rate of interest of 8.2 percent for the financial year ending 30 June 2022 in the value of $66.7 million tala.
“In this Golden Jubilee year celebrating the 50th anniversary since its establishment, we also celebrate making SNPF the first institution in Samoa to do so.
The statement states the disbursement of the interest to members of $24.4 million in April, $26 million this month in June $16.27 million in December this year.
“The total payout is $66.7 million,” says the statement.