Statutory basis
The Fund exists under the Solomon Islands National Provident Fund Act. Member savings are protected by that legal framework - they can't be dissolved by any management decision.
Safety & oversight
The Fund is established by Act of Parliament, independently audited, and governed by a Board with legal fiduciary duties. Here's what that means for your balance.
Every dollar in the Fund sits behind five layers of protection. Each one on its own reduces risk; together they cover almost every scenario the Fund can plan for.
The IPS defines how much risk the Fund may take in pursuit of returns.
Savings are spread across asset classes, sectors, markets and currencies, so no single event can sink the whole Fund.
The IPS caps exposure to any single counterparty, any one sector and the Government, and rules some sectors out altogether.
An honest word on risk
No investment is risk-free, and values rise and fall. Our job is to manage risk carefully, not to pretend it doesn't exist.
Three layers protect your savings - the law, the audit, and the Board. These are structural protections, not statements of comfort.
The Fund exists under the Solomon Islands National Provident Fund Act. Member savings are protected by that legal framework - they can't be dissolved by any management decision.
The Fund's accounts are audited every year. The audit scope covers both the composition of the portfolio and its valuation at year end. Full statements are published in the Annual Report. (Editor: confirm auditor name here with Investment Dept.)
The Board is legally required to act in members' interests. Crediting rate, asset allocation, and risk policy decisions all pass through independent oversight. (Editor: confirm fiduciary-duty wording with Legal.)
In FY2020 (COVID impact) and FY2022 (a Fund deficit year), members were still credited positive rates. Even in down years, the mandate held and member accounts received a crediting.
The Fund's track record across crises - the Tensions, the 2020 pandemic, deficit years - is that member accounts have been credited every year. Past performance is not a promise about the future, but the structural protections above exist for exactly these moments.
1998–1999 Years leading up to the Tensions.
2000–2003 Civil unrest; rates stayed above the floor.
2004–2009 Economic recovery; strong equity revaluations.
2010–2026 COVID and deficit years - positive rates each year.