Annual Interest & Member Statement

Annual Interest
After 30th June each year, an interest (whenever declared by the Board on 30th September) is added to each member’s account. The interest is calculated against the amount standing to the member’s credit at the beginning of the subsequent financial year (1st July).

Member’s Account
Employer and employees contributes to member’s account with the Fund. The compulsory contribution rate is employer 7.5 cents and employee 5 cents for each dollar earned, total of 12.5 cents.Upon registration of membership, a membership card is issued to the member as an identification of his/her membership with the Fund until retirement at the age of 50.

Statement of Account
Soon after intrested is credited to members each financial year (30th September) statements of account are normally issued to all members through their employers. A member who does not receive his or her statement may obtain one by writing to the General Manager of the Fund or call at any of the Fund’s Offices in Honiara, Gizo or Auki.


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