The Samoa National Provident Fund (S.N.P.F.) has announced that its online portal for the payment of the 2 per cent interim dividend will open from 23 January to 17 February this year. 

The special interim dividend has an estimated value of SAT$19 million according to the S.N.P.F. at the end of January 2023 will coincide with the start of the 2023 academic year in Samoa.

The special interim dividend cash payout makes up a total 7 per cent payment to its members for this current financial year. 

According to the statement issued by S.N.P.F. on Monday night, the Board and Management have approved the measure to aid S.N.P.F. members "with the inflationary pressures" our country is currently facing. 

The Minister of Finance Mulipola Anarosa Ale-Molioo announced the 23 January 2023 payout as part of her 2022-2023 Supplementary Budget which was tabled in Parliament this month.

Mulipola said the payout will be made available 100 per cent in cash for all S.N.P.F. members. This is in addition to the payouts already done in early July and December this year within this financial year. 

The last payout of 2 percent was in December and was made available online through the fund’s online portal. 

The disbursement of the interest to members for this financial year included $26.03 million (3.2 per cent) paid in cash to members starting 1 July 2022 (ending 29 July 2022) and a total of $16.27 million (2.0 per cent) paid in cash to members on 1 December 2022.

The last highest S.N.P.F. dividend payout was for the 2019-2020 fiscal year with total interests injected into the local economy this year in the vicinity of $60 million tala.

S.N.P.F. members who do not access their dividend payment through the online portal will see the payments added to their savings. 

Out of the fund's 32,000-plus registered members, over 31,000 have already registered on the online portal the S.N.P.F. said in a recent press statement. 

Furthermore, the Minister of Finance said during her supplementary budget speech that the Government will continue its efforts to monitor the prices of basic food items locally.