The medical healthcare scheme initiated by the Samoa National Provident Fund (S.N.P.F.) for its members is still in its preliminary phase.

This was confirmed by the Chief Executive Officer (C.E.O.) of the Fund, Lemalu Selesitina Meni-Reti, in response to queries from this newspaper.

Lemalu stated that the Committee tasked with developing this initiative is still conducting consultations.

"Once that's done, we will prepare a paper for Cabinet consideration," Lemalu said.

"At this stage, it's still in its early phases."

The plan to implement a medical healthcare scheme for all Fund members is highlighted in the S.N.P.F.'s Annual Report 2022, the latest available report.

This scheme would assist members with medical coverage.

Additionally, Lemalu confirmed that internal issues within her office have been resolved following the reinstatement of the Chairman of the Board, Papali'i Panoa Tavita Moala.

Lemalu said the office was operating smoothly, and all internal issues were resolved.

She further noted that there were no longer any issues affecting the employees.

They were also working very closely with the Chairman and Board to make decisions for the Fund and to achieve their vision and objectives.

Total net assets of $1 billion were recorded for 2022, marking a milestone achievement, making S.N.P.F. Samoa's first and only billion-tala institution.

Net operational profit for the year was $91.3 million, a 7 per cent increase from the previous year's net operational profit.

Members' contributions collected during the year amounted to $131.2 million, a 14 per cent increase compared to $114.7 million in the previous year, 2021.

The Special Death Benefit is $5,000. Total death benefits paid out during the year were $736,664, a decrease offive per cent compared to the previous year's $778,750.

For the Retiree Pension Scheme, there were 173 retiree pensioners at year-end, a decrease of five per cent from 184 the previous year. A total of 107 pensioners and 66 beneficiaries remained at year-end, with no new pensioners for FY 2021-2022. 

The total cost of the retiree pension for the year was $447,338, a five per cent decrease from $472,418 the previous year. The pension pool was $1.8 million at year-end, a 19 per cent decrease from $2.3 million the previous year.