What…s happening with the Government Superannuation Fund?
Please publish this letter in your paper for anyone to comment on. I am hopeful that the Superannuation Fund Agency (SFA) will respond to this letter. I was a government employee in Tonga for almost 10 years. I am now residing in Australia as an Australian citizen.
I have a few questions for the Superannuation Funds Agency:
1. Are you distributing any Superannuation Fund statements to the members?
From what I recall, the SFA is supposed to send out a financial statement every 6 months to its members. This statement should include the member…s donation (compulsory and voluntary), the government contributions, administration fees, etc.
I have not received a single statement since I left the Tongan public service in 2001.
2. How much funds have been collected by the SFA since its inception and where is it?
As a member, I think I am entitled to know where my funds are being invested and if there…s any return on these investments. I would like to know if the administering fees I…m paying is put into good use at all. In short, I…m only asking for some transparency in the SFA…s service delivery.
I vaguely recall that some funds were invested in the AMP and I know that AMP had a big dive a couple of years back. How did that impact our funds?
3. Are there any public contact points for the SFA?
For those of us overseas, it is a problem to contact some of the departments in Tonga. If there is a website, that would be great, otherwise some email addresses would be very helpful.
I would like to opt for my SFA statements to be send to Australia, if that…s possible.
4. Is it possible to take out my entitlements before I…m 60?
I am no longer a Tongan, as dual citizenship is out of the question. I am an Australian citizen now (not quite by choice but by circumstance).
What are the ways that are allowed for withdrawing before turning 60?
There will be a considerable time and money (admin costs) saved if they pay me out. Besides at the rate the Tongan currency is devaluing, I would be at a tremendous loss.
I must say, however, that I admire the effort that the SFA is putting into what they do, after all, we do trust them to carry out their tasks to the best of their abilities and to all that they have sworn to do when they became established public servants.
My humble request is that the SFA show a bit more transparency and accountability.
May I take this final sentence to request the Editor of the Matangi Tonga, if it is not too much hassle, to forward this outcast…s concern to the Government Information Unit at the Prime Minister…s Office requesting them to publish some information on their website about the fore-mentioned queries?
Curious from Australia
PS: Dear Editor, My utmost thanks to you for a wonderful paper and a fantastic website. Go Matangi Tonga.