NSL continues dialogue and lawsuit

Nambawan Super Limited continues to maintain dialogue with the Government over unpaid superannuation totaling K170 million in contributions for over 3,000 exited members.

Board Chairman, Anthony Smare said while the lawsuits against the state over the unpaid contributions is continuing, they are still is dissections with them find alternative resolutions.

Since December 2015, 3, 800 members retired but have only received their own contributions because the state had not paid their portion of contributions as per the Superannuation Act.

Smare hopes a resolution is reached some time this year.

“Its probably the number one challenge, apart from navigating through a difficult economy and ensuring we work to generate returns for our members but to also fight to get the money the state owes the 3,000 members.

“If the court comes down with a strong decision against the state, then it will compel the state, but our hope are on past assurances provided by Prime Minister and others, their working on ways given the fiscal challenges they have.

“I expect to be talking in the next two weeks or so with the new Treasurer to identify some of other ways in which we can try to rectify it so that especially members that exited can receive their money.”

Cedric Patjole