The approach so far relies too much on the existing formula, rather than “working from it” and hence cannot be seen as enhancing the legitimacy of the Fund. Ideally, a rework of the formula is called for; with a substantial increase in weight for PPP-GDP in order to better reflect current economic realities. 24.
If this is sustained into the future, the objectives of the Government’s Vision 2050 can be realized. To do justice to all the roles that are placed under the Bank of Papua New Guinea’s mandate, we will continue to protect the Contributor’s Savings in the long term Savings Schemes in the Superannuation and Life Insurance industries.