While government employees have enjoyed the plan for the past year, as of 1 July all employers must contribute five per cent above the wages they pay, while employee’s pay another five per cent.
Finance Minister David Adeang said this was yet another important step in the journey of a country shaking off the mistakes of the past and maturing.
“Nauru must establish a sustainable future for itself and its people, and this superannuation scheme, administered by a respected fund manager independent of government, will ensure that all Nauruans will have savings in the future.”
