Nabilah S
Papua New Guinea National Superannuation Fund Ltd (Nasfund) has introduced updates to its e-withdrawal system to enhance member security, according to a senior executive. Anne Wilson, the Chief Officer for Member and Employer Services, emphasized that the e-Withdrawals service, launched last year, now includes improved security measures to protect member transactions.
Categorization of Withdrawal Applications
Withdrawal requests will now be categorized and accepted only for specific reasons, such as unemployment, housing, emigration, or for members residing overseas. All other withdrawal requests mustbe processed in person at the nearest Nasfund branch.
Updated Personal Bio Data
Members are urged to ensure that their personal information, as listed in the Member Data Update Form (MDUF), remains current in the system throughout their employment tenure. This step is crucial, particularly during periods of unemployment when members choose to withdraw their funds.
Email Verification
ensure authenticity and security, the email address used for withdrawal requests must match the one registered in Nasfund’s system and on the member’s MDUF. Any discrepancies will require members to visit a branch to submit their withdrawal request in person.
Wilson underscored the importance of these modifications in enhancing member transactions and safeguarding their interests. “By improving our e-withdrawal processes, we aim to offer smoother transactions while guaranteeing the highest level of security for our members,” she mentioned.
Nasfund strongly encourages all members to follow these guidelines to ensure efficient withdrawal processing and maintain member protection.
Established in May 2002 as the successor to the National Provident Fund (NPF), Nasfund is the largest private sector superannuation fund in Papua New Guinea, serving as a pillar of retirement savings for numerous individuals nationwide.
