-NPF declares 8 percent interest after record $430m income
-$274.9m to members’ accounts, death benefit raised to $10,000
BY NED GAGAHE
A total of $274,908,820 has been credited to members’ accounts effective yesterday, September 30, 2025.
Minister of Finance and Treasury, Trevor Manemahaga, officially declared an 8 percent crediting rate for the 2024/2025 financial year.
Speaking at the Heritage Park Hotel, Minister Manemahaga said the declaration is a proud moment for the government and the Fund.
“This is a very important event that members look forward to every year. Your accounts will now be credited with 8 percent interest, reflecting the Fund’s strong performance and prudent management,” the Minister said.
He also confirmed an increase in the Special Death Benefit to $10,000, up by $1,500 from last year’s $8,500.
The announcement comes on the back of a record financial performance by the Fund.
SINPF recorded a draft gross income of $430 million for the financial year ending June 30, 2025 — an increase of more than 80 percent on last year’s $252.2 million.
After expenses, the Fund posted a net profit of $303.5 million, representing a 6.6 percent return on its $4.595 billion investment portfolio.
SINPF CEO/General Manager Mike Wate said the results reflect careful management and resilience.
“This is a milestone year for the Fund. Despite global and local challenges, we have delivered sustainable returns while keeping members’ funds secure for retirement and old age,” Wate told guests.
The performance was boosted by strong dividends from key equity investments:
South Pacific Oil Limited – $70 million
Solomon Telekom Company Ltd – $43.78 million
BSP Financial Group Ltd (PNG) – $8.82 million
UBS Australian Fund – $2.49 million
Solomon Submarine Cable Company Ltd – $0.84 million
Interests from Government’s sovereign debt interest income has made a significant contribution by rising to $30.64 million, while property income held steady at $33.49 million despite vacancies on commercial properties in Auki and Town Ground.
Fair value revaluations surged to $208 million, compared to just $35.8 million in 2024.
Formal membership continued to expand, with 6,998 new members joining in 2025, bringing the total to 152,560 members holding credit balances worth $3.77 billion.
Wate said the growth reflects a strengthening economy and job creation.
“As employment grows, so too does membership and contributions, which ensures the Fund remains strong for all Solomon Islanders,” he said.
Minister Manemahaga said the results show that both the economy and the Fund are on a positive trajectory.
“The hosting of the 2023 Pacific Games and other international events laid the foundation for recovery and growth. With careful management, the Fund has turned this into benefits for our members,” he said.
“May the Fund continue to grow from strength to strength, and may our members continue to benefit in the years to come,” the Minister concluded.
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