The Samoa National Provident Fund (S.N.P.F.) will announce an unspecified amount of credit dividend for the current fiscal year to its contributors by next week. 

The Chief Executive Officer for the S.N.P.F., Pauli Prince Suhren confirmed the second payout by the end of the fiscal year, which he said will also complement the Fund's 50^th years Golden Jubilee celebration. 

Pauli said in a live-stream video that the dividend that is declared annually will be announced by the Minister of Finance, Mulipola Anarosa Ale–Molioo sometimes next week.

He did not reveal how much the payout will be but said the S.N.P.F. Act 1972 authorises the Board and Management to declare dividend for members at a rate not less than 4 per cent annually. 

Pauli said this has been consistent throughout the past years where the fund has never paid out anything less than the amount approved by law. 

In terms of changes over the years, he said the cash payout is one of the changes implemented and distributed to members during the measles epidemic and COVID-19 pandemic. 

Another major change that the fund has moved to setup is the online portal to make it convenient for members to access their entitlements. 

According to Pauli an estimate of 30,000 members have already registered on the fund’s online portal. 

He noted there are 32,000 active members and encouraged those who have not registered to utilise the platform as an alternative to access their payment. 

Contributors are encouraged to seek assistance from the S.N.P.F. office if they have lost their password or want to register online. 

The payment is expected to be made available on Friday next week, the first day of July, when the new fiscal year commences. 

Pauli also reminded those who want to be voluntary contributors that they too can benefit from the payments once they become contributors within 12 months. 

The first payout for this year from the Fund was delivered in April where 3 per cent interim interest payment was paid to contributors to the tune of $25 million. 

The remainder of 2 per cent (of a total of 5 per cent) will be disbursed in December which would translate to a total value of $42 million payout inclusive of the 3 per cent interest in April. 

Payments from the fund is one of the most sought after benefit by contributors every year.