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SNPF to pay out $60 million tala to members

Published

3 years ago

June 29, 2021

The Chief Executive Officer of the Fund, Pauli Prince Suhren

APIA, SAMOA – 29 JUNE 2021: The Samoa National Provident Fund today announced to pay out to members an 8.0% rate of interest to the value of $60 million tala for the financial year ending 30th June 2021.

The Chief Executive Officer of the Fund, Pauli Prince Suhren said, “as COVID-19 continues to prevent our economy from realising its full potential at this present time, the Board and Management recognise that our members continue to face the reality of the global economic downturn adversely impacting our country.

“Therefore, the Fund has resolved to pay out 50% of this year’s interest declared in cash as part of our enduring commitment to the wellbeing of our members.”

Disbursement of the dividend to members can be itemised as follows:

$30 million (4.0%) paid in cash to members on 1st July 2021 (ends 27th August 2021);
$30 million (4.0%) credited to members’ contribution accounts on 1st July 2021;
Total Payout: $60 million.

“The Board, Management and all the Staff at SNPF take pleasure in acting to assist our people in these unprecedented times.”