Discrepancy in Govt. SNPF contribution
Civil servants' contributions from their employer to the Samoa National Provident Fund are yet to be credited to their accounts because of discrepancies between received payments and member contribution records.
SNPF Chief Executive Officer Lemalu Selesitina Pulega said the delay in crediting the members' accounts was because they wanted the accurate figures.
Some civil servants raised concerns that the employer contribution from the government was not showing in their accounts. Many are concerned that the failure to have this amount credited to their account would impact their dividends, should one be announced soon.
"The government pays about $3.8 million monthly to SNPF for contributions," Lemalu confirmed.
As of 5 January, the SNPF has received these funds, providing some assurance amidst rising questions over public servant and employer participation.
"Government pays for the period ending 5 January has been received," Lemalu stated.
However, she noted that discrepancies emerged between the received amount and the accompanying list detailing member contributions.
"There are discrepancies between the amount and the list received," Lemalu stated.
The discrepancies have raised concerns about how they may impact members’ accounts. Lemalu indicated that the SNPF is working with the Ministry of Finance (MOF) to address the issue.
"We are waiting for MOF to review their list and revert to SNPF so we can post to members' accounts," she further stated.
According to employment laws, everyone who is employed has to pay 10 per cent of their salary or wage as an employee contribution to the SNPF. The employer has to contribute another 10 per cent making the total contribution to SNPF 20 per cent of the employee salary.
SNPF's mandatory role, responsibilities and authority are stipulated in the SNPF Act 1972 which was amended by the Samoa National Provident Fund Amendment Act 2010. It is a compulsory savings scheme for the purposes of retirement for all employees.