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PNG: Papua New Guinea Superannuation Fund

Overview of PNG

PNG is a closed public sector scheme with no contributing customers. Constituted under the Superannuation (Papua New Guinea) Ordinance 1951, PNG provided retirement benefits for employees of the administration of the Territory of Papua and New Guinea. Since 1 July 1976, the scheme has been administered in accordance with section 38 of the PNG Act.

PNG customers

Figure 32. Number of PNG pensioners over five years

Note: Figures are at 30 June of each year. ‘Pensioners’ represents the number of pension accounts, not the exact number of pensions (e.g. multiple recipients such as a spouse and orphan children may be paid under one account).

PNG administration

Benefit payments

Figure 33. PNG pension payments over five years

Changes to PNG’s legislation

No changes were made to the PNG Act or to the Papua New Guinea (Staffing Assistance) (Superannuation) Regulations 1973.