By EDDIE OSIFELO
SOLOMON Islands National Provident Fund (SINPF) has witnessed a drop in membership this year.
Speaking at the declaration of the 6 percent crediting rate for members at Heritage Park Hotel last Thursday, General Manager, Mike Wate said 5,967 new members were registered during the year, down from previous year’s level of 6,182.
Wate said the total membership (with credit balance) increased to 144,198 million up from 143,950 recorded in the previous year.
He said contributions received from employers and members increased to $344.2 million up from $333.0 million in 2020.
“Total member contributions balance therefore increased to $3.3 billion from $3.1 billion in 2020,” he said.
Furthermore, Wate said active contributing members slightly declined to 57,530 from 59,330 recorded in the previous year.
He said active members hold a total contribution balance of $2.6 billion.