By EDDIE OSIFELO
THE number of Solomon Islands National Provident Fund (SINPF) members who are entitled to withdraw money under the covid-19 exemption orders has dropped as the deadline draws closer – June 30, 2020.
When the doors of SINPF opened on April 1, thousands of people turned up at SINFP building at Point Cruz.
This led to SINFP relocating the covid-19 enquiry to SMI Compound at Town-ground.
However, due to the increasing number every day, SINPF decided to hire Honiara High School hall to deal with the enquiry and withdrawals.
Now, the queue is long in the morning and reduced in the afternoon.
This shows many members have already withdrew their allocation in the last two months.
Under the criteria:
- A sum of $5,000 will be made available to members under the age of 50 years, who are temporarily laid off, or stand down due to the effect of COVID-19, or employed as of 31st December 2019, and are residing within the ‘emergency zone’. Members whose balances are below five thousand dollars are to be paid 50% of their balances.
- Laid-off members due to COVID-19 be waivered 3 months waiting period and be paid 1/3 of their contributions or in full if their balances are less than $10,000. Their remaining Balance will be paid according to SINPF schedule.
- Members aged 50 years and above to withdraw up to 20% of their contributions should they wish to or else, they can elect to withdraw in full.
SINPF has engaged United Nations Capital Development Fund (UNCDF) Digital Finance expert Mr Sanjay B Shah to architect some strategies on how the payment should be delivered effectively and efficiently.
UNCDF makes public and private finance work for the poor in the world’s 47 least developed countries (LDCs).
General Manager of SINPF, Mike Wate earlier said it’s a learning experience as a first of its kind to happen to SINPF Board since its existence in 1976.
Wate said even during the social unrest in 1998-2003 the Minister of Finance or the government then did not provide exemption orders for members to access part of their NPF contribution.
He said such payout to members will go down in SINPF Board 44 years’ history.
“SINPF will learn from this experience and in the future Fund will have a precedence to lean on when such crisis arises,” he added.
There are members with no mobile numbers and also members who missed their collection dates and times.
These members are requested to contact the Fund on 673 or on our two direct lines 25147 or 25149 go to the payment site for their payments for those who received their messages.