BY SHARON DAIWO
The Special Death Benefit (SDB) under the National Provident Fund has been increased to $10,000, up from $8,500 in 2024, to provide greater support for families during times of loss.
The announcement was made by the Minister of Finance, Hon. Trevor Manemahaga, during the Fund’s annual update at the Heritage Park Hotel in Honiara.
“As part of the Fund’s annual announcement, I am pleased to announce a Special Death Benefit of $10,000. This is an increase of $1,500 from the 2024 amount,” Hon. Manemahaga stated.
The Minister also commended the Fund’s strong financial performance, attributing it to solid investment returns and responsible management.
“Key parts of the Fund’s investment portfolio have performed strongly despite external market and industry volatility,” he noted.
Hon. Manemahaga further reaffirmed the government’s commitment to reform, announcing that a new NPF Reform Bill will be brought before Parliament by the end of 2026.
“It’s my commitment as Minister of Finance to bring the new NPF reform bill to Parliament before the end of 2026,” he said.
The proposed reforms aim to modernise fund operations, allowing members to not only grow wealth for retirement but also meet short-term financial needs while still in employment.
