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The National Superannuation Fund (NASFUND) of Papua New Guinea (PNG) was established in May 2002, as the successor entity to the National Provident Fund (NPF). It is the largest private sector superannuation fund in PNG. [1] In 2016, NASFUND reported net assets of PGK4.22 billion, representing a 28% growth on 2015. [2]
Adelaide Airport Curfew Act 2000 2000 (No. 29) ... Australian Defence Force Superannuation Act 2015 2015 (No. 119) ... (Papua New Guinea) Retirement Benefits Act 1973 ...
Superannuation funds operate as trusts with trustees being responsible for the prudential operation of their funds and in formulating and implementing an investment strategy. Some specific duties and obligations are codified in the Superannuation Industry (Supervision) Act 1993 - other obligations are the subject of general trust law.
Statute law is very largely adopted from overseas jurisdictions. For example, the Criminal Code is adopted from Queensland; the Rules of Court are those of New South Wales; the Matrimonial Causes Act is the extremely old English statute of 1857 which had been in force in the Australian States before the federal Divorce Act, 1964; the Companies Act ch 146 was substantially the English Companies ...
Payments made under the A New Tax System (Family Assistance) Act 1999 include: [21] [needs update] Family Tax Benefit Part A – for parents or carers to help with the cost of raising children. Family Tax Benefit Part B – for single income families or sole parents.
The Superannuation Act 2010 (c. 37) is an Act of the Parliament of the United Kingdom. It caps the redundancy payouts to civil servants at 15 months' salary. Initially the proposal was for a maximum of 12 months' salary. This was raised during the passage of the Bill to 15 months in the case of voluntary redundancy.
The economy of Papua New Guinea (PNG) is largely underdeveloped with the vast majority of the population living below the poverty line. [20] However, according to the Asian Development Bank its GDP is expected to grow 3.4% in 2022 and 4.6% in 2023. [ 21 ]
The Bank of Papua New Guinea (Tok Pisin: Beng bilong Papua Niugini) is the central bank of Papua New Guinea, which has a core mandate to ensure price stability and maintain macroeconomic growth. To achieve this, it discharges four main functions; 1. responsible for the formulation and implementation of monetary policy, 2. ensure financial ...