9 Jun 2014

Samoa pension fund boosted

11:43 am on 9 June 2014

The Samoa government has decided to increase employers' and employees' contributions to the Samoa National Provident Fund.

The rise from 5 to 7 percent is to be implemented in two years starting in 2015 with a 1 percent increase per annum.

The government says the decision remains for fund members reaching the retirement age of 55 to choose between a lump-sum withdrawal or take part-payments of their lifetime pension.