About TNPF

About Our Company

Our Vision

A Secure Future For Our Members

Our Mission

To Maximise the Benefits received by Members and their Dependents through prudent stewardship of the assets held in trust.

WHO WE ARE

TNPF pride itself as a financial institution set up under the special Act of Parliament (TNPF Act 1984). Established as a national provident fund to cover potentially every person of working age, without discrimination on any grounds of nationality, race or colour. Employing more than 21 employees, TNPF is now the largest financial instituion in the country with total membership valued at AUD$69 million.

OUR MANDATE

TNPF is responsible for the effective administration of the following mandates:

To receive all contributions from both employed and voluntary members.
To invest all funds received on behalf of members and collect interest.
To collect surcharges from employers.
To pay out benefits to members.
To pay out expenses properly incurred in the administration and running of the organization.

About Us

About TNPF
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VALUES & PRINCIPLES

These are the fundamental values and principles which will underlie and be instilled in the everyday work of the organization, inform our stategic goals and guide employees in all that say and do.

EQUITY
INTEGRITY & ETHICS
RESPECT
ACCESSIBILITY
EFFICIENCY & EFFECTIVENESS
EMPOWERMENT
INNOVATION
ACCOUNTABILITY
PARTNERSHIP

We will demonstrate and offer absolute impartial service to all members of the organization without regard to their wealth or social standing. The enforcement of legislation, the services we deliver, the decision we make and the actions we undertake will be fair and uniform to ensure that all our members receive equal treatment, endure and enjoy equal justice under the law.

We will adhere to the highest standards of ethical behaviors, moral uprightness, and committed with all truth and honesty to the mandated functions of the organization.

In all that we do, we will respect the worth and dignity of each and every person we serve with fairness, dignity and compassion. We will also treat each other in this organization with respect.

The services and advice that we offer are appropriate and should be accessible by all members.

We will do our best to produce satisfactory results in the most economical way and to make good use of our resources.

We believe in giving our employees the skills, resources, authority, opportunity, motivation as well as holding them responsible and accountable for outcome of their actions as it increases their level of competency and satisfaction.

We will be innovative in our dealings and approaches in delivering our services. Employees are encouraged to be dynamic and come up with innovative ideas that can translate into successful products for the organization.

We will be able to explain reasons for actions taken and will take responsibility for those actions.

We will not be isolated in our operations. We will maintain a strong partnership with our members, employers, Government and communities. We will continue to network, coordinate, cooperate and collaborate to strengthen our relationships.

Penielu P TeoCEO

A Word From The CEO

Talofa and welcome to the Tuvalu National Provident Fund (TNPF) Website. I am pleased that you have taken the time to visit our website and I trust it will give you a better understanding of the various benefits and services offered by TNPF to its members.

Currently, we have over 4,000 active members and around 95 employers are actively making contributions on behalf of their members. TNPF is fully owned by its members and as the largest financial institution in the country today, there will always be pressure on Management to continuously improve the level of service that we provide to our members. To ensure we operate as a healthy and reliable financial institution, we have made it a firm commitment to ensure the Fund is managed in a professional, accountable and transparent manner.

This website provides a great platform by which we are able to connect with our members as responding effectively to the needs of our members and creating an enabling environment that supports the ongoing needs of our member is priority to all of us at TNPF. We are pleased that this website will take us a step further in extending to our members our complete services.

TNPF has just launched its new Logo. The change in Logo signals a change to the Fund’s brand, identity and corporate culture as it continues to improve its services to all its stakeholders. The launch of the new TNPF Logo is timely as the Fund currently undergoes major reforms to its minimum retirement age and all benefits and services it offers to its members. The reforms will lead to better services for all members of the Fund.

It is my sincere hope that the cooperation between the key stakeholders of the Fund (Government, Employers and Employees) and all members continues to proper.

Enjoy the website and feel free to contact our headquarters for any additional information.

Penielu P Teo

Chief Executive Officer

Projects

Funafuti Lagoon Hotel

The Fund, through its subsidiary private company - TNPF Investment Holdings Ltd t/a Funafuti Lagoon Hotel (FLH) that was incorporated in late 2016, took over (through a Concession Agreement) the assets of a 20 bedroom Hotel with associated dining and function facilities that were owned by the Vaiaku Lagi Hotel (VLH), which is a public enterprise owned by the Government of Tuvalu.

The Fund and the Government of Tuvalu, through the terms of the said Concession Agreement, agreed that they will work together to further upgrade the hotel assets conditions/standards and improve operational processes to bring direct and indirect benefits to Tuvalu through this investment. Both also agreed that they will work together to lead and empower the private sector to invest in the Tourism sector through a Tourism concept paper that was developed by the Fund.

Te Ulukai o Tuvalu

The fund invested in this commercial property complex to provide basic infrastructure through the leasing of office/shop spaces for local entrepreneurs. The property has 10 room spaces that houses a Restaurant and office spaces on its top floor, while the ground floor houses the Kaupule Funafuti Bread Market and 4 other shop spaces. The rooms/spaces are rented out on a price range between $290 - $450 monthly rates. There are also a lot of spaces around the ground floor for local produce vendors on a $2.00 per day rate.