By Martha Taumata Faavae
The Samoa National Provident Fund, SNPF, did not want to take the risk of disbursing dividends to contributors online because it was too unstable.
Direct disbursement into contributors accounts would have speeded up the process and stop the big crowds massing inside the multi-storey building.
But the SNPF General Manager, Pauli Prince Suhren, and his staff have already trialed the online system earlier with the stimulus package last April and it was a mess.
‘There was a lot of confusion when we tried to get between 2-3 thousand contributors eligible for loan repayments under the stimulus package to email us the necessary forms for processing,” Pauli explained.
“When emails from 10 people arrive at the same time, the staff had to work out which is the correct email or else they end up send money 10 times to the same person.”
The SNPF has $65 million tala to disburse to 85 thousand contributors, the biggest ever amount of money to be funneled out as dividends.
Having to sort out they funds through those many people was too problematic for the fund so we decided to revert to the more trusted old system.
Contributors make their way to the office and sign off for their dividends.
Special mention was also made of the Members of Parliament getting dividends as well for the first time.
The Minister of Finance, Sili Epa, played up the historical aspect of the dividends for his parliamentary colleagues for the first time in the history of the fund.
“ Big help for them with family dependents as well and it’s only around $500 to also assure them that the fund is being well managed,” the Minister quipped during the official start of the payout.
“ The amount is nowhere near enough to fund any re-election campaign for us,” he added with a knowing smile.
The Members of Parliament and the Pensioners are the other main groups next to the contributors, covered under the fund.