NAMBAWAN Super Limited (NSL) is continuing to expand its financial education awareness, having successfully delivered general superannuation awareness sessions at La Salle Technical Secondary and Mapex Institute in Port Moresby recently.
These interactive visits form part of NSL’s ongoing commitment to educate and empower Papua New Guinea’s future workforce, helping young people prepare for life in employment and to start thinking about their financial future well before receiving their first paycheck.
Many superfund members traditionally delay retirement planning until late in their careers, making these ongoing awareness sessions crucial for shaping mindsets. By targeting school leavers in high schools and colleges, the program aims to drive a proactive approach that encourages young people to start thinking about future savings the moment they enter employment.
NSL Chief Executive Officer, Mr. Lachlan Baird commended the two schools for welcoming the NSL team and encouraged more schools to reach out and invite the NSL team to run these sessions.
“These awareness sessions are vital for our young people,” said Mr. Baird
“We regularly receive feedback from our current Members who share their regrets on not starting to think about their superannuation planning until much later in their careers.”
“Starting early allows young workers to benefit from the power of compound interest, where even small additional contributions made early can grow significantly over time.”
“Through our Financial Literacy Training we have observed Members wishing they had acted much sooner in their careers. Many of them only explore the benefits of superannuation midcareer when they begin thinking about buying their first home or start planning for retirement, missing out on years of critical wealth accumulation.”
“Our sessions also address this gap by promoting voluntary contributions and educating young people on how they can grow their retirement savings beyond compulsory employeecontributions. Ultimately, we want the future workforce to understand their workplace financial rights and make informed financial decisions from day one.”
“A great thing about running these sessions in the schools and colleges is that a lot of the teachers are also NSL Members who are actively managing their own savings,” added Mr. Baird.
“Because they understand the value of superannuation firsthand, these teachers are in a perfect position to
continuously encourage students to take these lessons into serious consideration the moment they start employment. It creates a supportive environment that reinforces financial responsibility beyond the classroom.”
“At NSL we want our Members to be financially secure from day one,” added Mr. Baird. “Waiting until mid-career to think about retirement savings or home ownership is a missed opportunity.
Through these regular awareness sessions, we aim to continue to empowering students with the knowledge to build a stable financial future immediately upon entering employment.”