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12 Things to Know About Nasfund’s Relief Payment

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Nasfund has released a statement that it will make relief payments for those terminated as a result of COVID-19. However, it is important to understand that the “payments” can only be once Parliament has passed the relevant legislation.

Having said the above, here are a few key points to note about these relief payments:

  1. Only those employees terminated as a result of COVID-19 are eligible
  2. Voluntary resignation due to the virus is unlikely to be accepted.
  3. The payment is a one-off payment
  4. Pending approval by Parliament, Nasfund are accepting applications now
  5. Eligible members will only be allowed to withdraw part of the savings
  6. You must be a member
  7. You must have ceased on or after Monday 23 March 2020
  8. You must sign a statutory declaration confirming your termination
  9. You MUST Complete and Satisfy all requirements of the COVID-19 Early Withdrawal Form SF-C19.
  10. The amount of your entitlement is 20% of your contribution up to a maximum of K10,000.
  11. The amount of entitlement does not include employer contributio0n and interest
  12. If you remain unemployed after three months, you will be eligible to receive equivalent of 50% of your last monthly salary

For more information, you should call 7373 3000, 75010063 or email help@nasfund.com.pg

To read Nasfund’s statement click here

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