The Samoa National Provident Fund today declared the issuance of 3.2 percent or $26 million dividends for their member starting the 1 July 2022.
A statement issued also confirmed a landmark achievement of surpassing a billion tala net assets for the first 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 the 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 the making SNPF the first institution in Samoa to do so.
Furthermore, as we celebrate Samoa’s 60th independence anniversary, the board realises that our economy needs urgent financial stimulus and heeds our Government’s call for inspiring growth through an inclusive and resilient recovery for Samoa.
“It is in that regard that the fund has resolved to pay out an unprecedented 100 percent of this year’s interest declared in cash as our unique contribution to the national effort to inspire growth.”
The statement states the disbursement of the interest to members of $24.4 million in April, $26 million this month, $16.27 million in December this year.
“The total payout is $66.7 million,” says the statement.
