NPF Declares 8% Dividend for Year Ended June 2021

Pauli Prince Suhren, CEO NPF

Yesterday Tuesday 29 of May, NPF CEO afioga Pauli Prince Suhren confirms during his press conference with the media, a 8% annual dividend for National Provident Fund contributors for the year ended 30 June 2021, which equates to $60 million tala in value.

By comparison, this years dividend drop compared to the 2020 dividend of 9.1%.

The dividend is the first since the progressive increase in compulsory contributions from 7% to 10% over a 3-year period with 1% annual increases. Contributions will increase from 8% to 10% this July.

Therefore, the Fund has resolved to pay out 50% of this year’s interest declared in cash as part of our enduring commitment to the wellbeing of our members.

For the 2020 dividend, calculated on balances as at 30 June 2019, contributors will have 4% credited to members’ contribution accounts on 1st July 2021 while the other 4% is to be disbursed to members in staggered payouts or paid in cash on 1st of July 2021