Minister of Finance Lautimuia Uelese Va'ai has confirmed that he is still awaiting an update from the board and management of the Samoa National Provident Fund (SNPF) on the proposed dividend for contributors. 

Speaking briefly to Samoa Observer outside Parliament on Wednesday, Lautimuia revealed that the decision on the dividend is in the hands of the S.N.P.F. Board and management.

"I’m waiting for them to get back to me on that," Lautimuia said. When asked who exactly he was waiting for, he clarified, "I’m waiting for the Board of SNPF and management to provide an update. They make the decisions." 

He assured that once he hears from them, he will provide a further update on the matter, which has become a source of concern for many contributors.

The issue of the SNPF dividend has been a growing topic of discussion, particularly with the start of the academic year approaching. 

Many contributors, especially parents across Samoa, have voiced their frustrations online, expressing concerns about the lack of an official announcement regarding the dividend payout. 

As families prepare for the new school year, the absence of a clear update on the distribution of funds has added to the anxiety.

SNPF's Chief Executive Officer, Lemalu Selesitina Pulega, responded to inquiries last week, confirming that no dividends have been approved yet. "There are no dividends approved yet by the board and the minister," Lemalu stated, adding that the situation remains in a state of flux.

Last year a dividend payout was distributed in January 2024 and was announced in December 2023.

However, as the new year began, contributors were left without a clear timeline or confirmation on when the distribution would take place.

Earlier in January 2024, SNPF had provided a special interim dividend of approximately SAT$19 million. 

This payout comprised a 2 per cent dividend available to contributors between 23 January and 17 February 2024. 

The last major payout came in June 2024, when the SNPF declared a SAT$60.1 million dividend. 

However, only a small portion, 1.6 per cent was distributed as a cash payout of SAT$14.6 million, with the bulk of the funds allocated to members' contributions.

During discussions surrounding the 2024-2025 national budget, Minister Lautimuia indicated that a total dividend of nine per cent had been earmarked for SNPF contributors for the fiscal year ending June 30, 2024. 

Of that, 2.4 per cent (around SAT$24.77 million) was distributed in January 2024, while the remaining 6.6 per cent (SAT$60.1 million) was to be divided between cash payouts and contributions. Specifically, SAT$14.6 million (1.6 per cent) would be disbursed as cash, while SAT$45.5 million (5 per cent) would be allocated to members’ contributions.