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Governance structure overview - ASFPNG

Superannuation for all in Papua New Guinea

Introduction

The Association of Superannuation Funds of Papua New Guinea (ASFPNG) oversees the superannuation industry in Papua New Guinea. It operates under the Superannuation (General Provisions) Act 2000 and is supervised by the Bank of Papua New Guinea. The ASFPNG is committed to protecting members’ savings and contributing to the country’s economic stability and growth. The governance structure includes a board and a secretariat that administers and operate the organization according to global best practices. The board includes representatives from various stakeholders, including the government and the superannuation industry.

Board of Directors

The Board of Directors at the Association of Superannuation Funds of Papua New Guinea (ASFPNG) is composed of dedicated professionals committed to guiding the organization towards achieving its mission and goals. The Board is responsible for the overall governance, strategic direction, and financial oversight of ASFPNG.

Executive Leadership Team

The Association of Superannuation Funds of Papua New Guinea (ASFPNG) has a dedicated executive leadership team that oversees its operations and ensures the organization meets its objectives. Here is an overview of the current executive leadership team:

  • President: Paul Sayer (Nambawan Super Limited – NSL)
  • Vice President: Charlie Gilichibi (Comrade Trustee Services Limited)
  • Treasurer: Rajeev Sharma (Nasfund Limited)
  • Secretary: Eric Kramer (PacSuper Solutions – PSS)
  • Life Member: Ian Tarutia (Chamber of Commerce & Trade)
  • Executive Officer: Vera Raga (Association of Superannuation Funds of Papua New Guinea – ASFPNG)

The team is responsible for guiding the ASFPNG in its mission to protect members’ savings and contribute to the economic stability and growth of Papua New Guinea.

Committees

The Association of Superannuation Funds of Papua New Guinea (ASFPNG) has several key committees that oversee various aspects of its governance and operations. These include the Audit and Risk Committee, which ensures accurate financial reporting and risk management; the Investment Committee, which manages the investment portfolio; the Governance and Nominations Committee, which oversees governance practices and board member nominations; the Member Services Committee, which focuses on member engagement and satisfaction; and the Remuneration Committee, which oversees fair and competitive remuneration policies. Together, these committees ensure ASFPNG operates efficiently, providing valuable services to its members and contributing to the economic stability and growth of Papua New Guinea.