Last week, we held an insightful conference with the directors and senior members of the Papua New Guinea Defence Force. The session focused on the fund’s performance and growth over the past five years, and what that means for members’ retirement savings.
We reviewed the challenges CTSL has faced and highlighted how the company has adapted its investment strategy—growing the fund’s assets from K618 million in 2020 to K803.8 million by the end of 2024. As a result of this strong performance, members were credited with a significant 10.5% interest on their savings.
The discussion also covered the efforts of our Member Services team, who remain focused on improving the member experience and delivering value through initiatives such as our retirement payment plans, the housing advance scheme, and the member discount program.
Additionally, we shared updates from our Toea Homes team, who continue to provide quality, affordable housing at our Taurama estate, along with plans to expand into the Lae (Igam) area.
The conference concluded with a Q&A session, giving members the opportunity to provide feedback, raise questions, and express any concerns. Our Chairlady, Michelle Hau’Ofa; the Chairperson of the Investment Committee, Mr. Charles Lee; CEO Charlie Gilichibi; and General Manager – Member Services, Freddy Manihoru, were on hand to respond directly and transparently, reinforcing members’ trust in us as the trustee of the Defence Force Retirement Benefit Fund.
