PNG Schemes

The Superannuation (Papua New Guinea) Ordinance 1951 provided retirement benefits for
employees of the administration of the Territory of Papua and New Guinea through the
establishment of the Papua and New Guinea Superannuation Fund. The Superannuation
Board which was constituted under the 1951 Ordinance was also empowered to administer
the funds established under the Superannuation Ordinance 1917 of the Territory of Papua
and the Superannuation Ordinance 1928 of the Territory of New Guinea. Since 1 July 1976,
the Papua New Guinea Superannuation Scheme has been administered by the
Commissioner for Superannuation in accordance with section 20 of the Papua New Guinea
(Staffing Assistance) Act 1973 (the Act).

The Papua New Guinea (Staffing Assistance) (Superannuation) Regulations made under
section 65 of the Act came into operation on 1 December 1973. These regulations
provided retirement benefits of the same nature and at the same levels as the 1951
Ordinance and provided for continuity with respect to the payment of benefits approved in
accordance with the 1917 and 1928 Ordinances. The regulations also contain detailed
provisions of the Scheme.

The Commissioner for Superannuation is also responsible for the payment of pensions
under the Superannuation Ordinance 1917 of the Territory of Papua and the Superannuation
Ordinance 1928 of the Territory of New Guinea. The funds that were established under
these ordinances have not existed for many years and the full cost of these pensions is met
from Consolidated Revenue.

For more information refer to the Annual Reports to Parliament.