ASFPNG update on COVID-19 relief payment

Submitted by socpro on Mon, 06/29/2020 - 16:12
measures summary

The Covid-19 relief payment is a withdrawal from the member’s superannuation account. The Authorized Superannuation Funds of Papua New Guinea will provide a one-off COVID-19 relief benefit of up to 20% of member contributions (up to PGK10,000, or US$ 2,890) for members of super funds who have ceased working due to COVID-19. If a member remains unemployed after 3months, they will be eligible to receive a monthly unemployment payment equivalent to 50% of their last monthly salary which is already provided for under the Superannuation (General Provisions) Act 2000 (Super Act).

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Regions / Country