BY NED GAGAHE
Almost half of the Solomon Islands National Provident Fund’s (SINPF) earnings this year come from its subsidiaries, highlighting the critical role these entities play in the Fund’s overall performance.
Chairman of the SINPF Board, Sir Dr Jimmie Rodgers, during the official announcement of this year’s crediting rate said without contributions from subsidiaries such as Telekom, Soltuna, and other investments, the Fund would have reached only about 50 percent of the current gross surplus of $330 million.
“That’s how important their work is. Our subsidiaries continue to deliver returns, create jobs, and support the Fund’s objectives of providing benefits to members while ensuring long-term growth,” Sir Jimmie said.
He noted that public criticism of some services, such as telecom packages, often overlooks the role these subsidiaries play in generating revenue for the Fund and helping maintain affordable services for the public.
Sir Jimmie also stressed the importance of balancing immediate member benefits with long-term investment growth, with subsidiaries playing a key part in generating higher returns than traditional bank deposits or government bonds.
“Our subsidiaries are essential to the Fund’s performance. They allow us to pay members meaningful benefits while also growing the Fund for the future,” he added.
For feedback, contact:[email protected]
