BY SHARON DAIWO
The Solomon Islands National Provident Fund (SINPF) is bringing some relief to families in times of loss by increasing the Special Death Benefit.
Dr. Jimmie Rodgers, the Chairperson of the SINPF Board, said this increase is meant to help families who are going through a hard time after losing a loved one.
“We hope this benefit will offer some comfort and support to bereaved families, easing the burden during their time of loss,” said Dr. Rodgers during a special event at the Heritage Park Hotel in Honiara yesterday.
This new Benefit announcement was made by Finance Minister Hon. Trevor Manemahaga, stating that the Special Death Benefit will increase to $10,000, up from last year’s $8,500 by $1,500.
This change is one part of a strong year for the Fund. Dr. Rodgers shared that SINPF made over $330 million in net operating gain this year.
“As the SINPF Board Chairman, I am proud to report that the Fund has achieved a net operating gain of $330,547,487 during the year,” he said.
“This good result mostly came from our investments in local and overseas companies, and how their value has grown.”
He added that the board carefully thought about how much to give back to members through the crediting rate, which is how profits are shared.
“After careful deliberation and thorough analysis, we are pleased to consider a reasonable crediting rate,” Dr. Rodgers said.
He said this decision shows the Fund is strong and ready for any future challenges. More than 197,000 members across both formal jobs and informal work will benefit.
“The benefits of this crediting rate… will extend to our more than 147,766 formal sector members and 49,818 informal sector members,” he added.
“This shows our strong commitment to fairness and shared success for everyone.”
With both financial strength and increased support for families, the SINPF hopes to continue building trust and helping people across the Solomon Islands.
