Applications open for NPF members at Town Ground today (Wednesday 1st April)
BY EDDIE OSIFELO
MEMBERS falling under the criteria of Solomon Islands National Provident Fund (SINPF) must collect their forms at Town Ground (SMI area) starting today.
This is so that they can withdraw their money from the fund following the exemption approval made by the Minister of Finance Harry Kuma in consultation with the SINPF Board last week.
Since Monday, members have been turning up in huge numbers at SINPF building at Point Cruz seeking clarifications on the different categories of the fund.
Yesterday, SINPF workers gave them criteria forms and account details to make them aware of what they need to carry with them when they go to the SMI Compound today to collect and fill their forms.
Due to the need for social distancing and minimising of large public gathering, SINPF will be accepting only 50 members at a time into the Town Ground Property and serve five members at a time by five officers.
The criteria the members need to fall under are:
1. 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 December 31, 2019, and are residing within the ‘emergency zone’. Members whose balances are below five thousand dollars are to be paid 50 percent of their balances.
2. 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.
3. Members aged 50 years and above to withdraw up to 20 percent of their contributions should they wish to or else, they can elect to withdraw in full.
4. The Application of members’ support will be for three months period effective, April 1 to June 30, 2020.