SNPF Pays Out $1.6 million on First Day of Disbursement

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Following the announcement of a Special Dividend payout for Samoa National Provident Fund (SNPF) members, the CEO confirmed that $1.6 million tala was paid on the first day of disbursements today.

The 1.1% dividend based on member contributions was announced last Friday by the Minister, Board and Management of SNPF as part of the fund’s support to the nation as it approaches Christmas while still under the cloud of the measles epidemic.

“During these challenging times the Board and Management realise that it is essential for the Fund to do its part to help out with our members and their families especially as we are just around the corner from Christmas.

SNPF confirms that 1.1% of nett contributions amounts to $7.8 million tala to be distrubuted to the fund’s 85,000 members.

Just over $1.6 million tala or 20.5% of the total expected to be disbursed was processed and dropped into members’ bank accounts on the first day today.

CEO of NPF Pauli Prince Suhren said the special dividend ends at the close of business on the 24th of December 2019.

“If there is anyone out there who has not yet signed for their special dividend, then the dividend goes into your account and remains there, it’s part of your money now but it’s just not available as cash anymore.

“So everyone has 3 weeks and 2 days to come in and sign for their dividend funds which more than ample time,” added Pauli.