Government is working on a new superannuation scheme

The Government does not have a current superannuation scheme however government is currently in negotiations for a new superannuation scheme. 

This means that all public servants who were recruited into the public service since 2016 are not part of any superannuation scheme until the government can secure a new scheme. 

Contributing to a superannuation scheme is compulsory for all public servants. 

Previously, the Niue Government had two superannuation schemes, the first was the Government Superannuation Scheme known as GSF which started some 40 years ago but closed in 1992. 

Then the Government signed on to a new scheme the ASB Superannuation Master Trust Investment Scheme in 1992 but this closed in 2016

Meanwhile, concerns have been raised by some public servants  in relation to not being covered by any superannuation scheme since 2016.

Slider

Some public servants are saying that it is unfair for some public servants not to be covered for this long. 

One public servant whose been in the service for around 30 years says that he is covered under the GSF scheme and his wife is under the ASB scheme. 

He told BCN News that the schemes don’t offer the same terms and conditions and said the next scheme should ensure consistent terms and conditions. 

He believes the Government should be looking at establishing a national superannuation fund which should include the private sector. 

Ida Hekesi, former president and current board member of the Niue Chamber of Commerce supports this view. She said that the private sector is growing the economy and it’s not fair that only public servants are covered under superannuation while the growing number of employees in the private sector are not. 

There is no comment from government as to whether this new scheme will be a national superannuation scheme to include employees of the private sector. 

BCN News is awaiting information on how many public servants employed since 2016 are not covered under a superannuation.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *