Welcome to the National Retirement Benefits Fund and Social Welfare

The National Retirement Benefits Fund (NRBF) was established as an autonomous institution by an Act of Parliament, the National Retirement Benefits Scheme (NRBS) Act 2010. His Majesty’s Cabinet declared the 1st December 2011 as the effective date for the Act and the establishment of the Fund.
The purpose for the establishment of NRBF is to provide benefits in respect of retirement at age 60 up to 70, permanent total disablement, early release, or death of a member as specified in the Act and Regulations. NRBF has been established with a vision to provide a secured organization enabling the people of Tonga to have a secure retirement through life-long income in their old age. NRBF also promotes national savings and investment capacities that provide the working Tongans with a sense of security and confidence in their old age. Undoubtedly such accumulation of funds will stimulate growth in the economy of Tonga.

Subject to section 19(1) of the NRBS Act 2010, every employer having one or more employees, other than those in respect of whom the Board has issued a certificate of exemption, and his employees shall be liable to contribute to the National Retirement Benefits Scheme. Thereby, every licensed employer in Tonga shall be registered with the Fund.

The commencement date for contributions to the Fund is the 01st July 2012 as per regulation 3 of NRBS (Administration) Regulations 2012.

Where any person registered as an employer intends to cease being an employer, he shall notify the Fund as soon as practicable.

The Social Welfare Scheme started on the 01st September 2012 for Tongan elderly person whose age is 70 years old or above.  The elderly member of the Scheme receives $70 (Age 70-74), $75 (Age 75-79), $80 (Age 80+) on a monthly basis. You may find out more information on the “Social Welfare” tab.

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ASFA Membership

 

The Association of Superannuation Fund of Australia provides training and design policies for the management, governance and administration of superannuation Funds in Australia. ASFA is the 4th largest managed funds market in the world. The Chief Executive Officer also announced the assistance of ASFA to facilitate trainings on the roles and responsibilities of the Board of Directors and management of the National Retirement Benefits Fund and Government Retirement Fund Board in Tonga in February/March 2013. These trainings will be held in Tonga and accredited in Australian qualification.

The Minister of Finance & National Planning, Hon. Lisiate ‘A. ‘Akolo, Chairman of the National Retirement Benefits Fund Board, Rev. Dr Tevita K Havea, Technical Advisor for NRBF, Dr S Leimoni Taufu’i, Board Members of the Retirement Fund Board, Dr Paula Vivili and Manu ‘Akau’ola, and the Chief Executive Officer of the Retirement Fund Board Saia Havili were all present at the presentation ceremony.

Prior to the visit to Australia, the Minister of Finance & National Planning, Hon. Lisiate ‘Akolo presented funding of TOP$60,000 from the European Union (EU) to the Technical Advisor, Dr S Leimoni Taufu’i for trainings of the staff and the Fund’s capacity building program. The Fund staffs have commenced their training attachments in New Zealand, Fiji and Australia.

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