The leader of the opposition said, he believes the country's largest superannuation fund, Nambawan Super Ltd, is owed US$825 million in unpaid government contributions. Don Polye, a former treasurer, said inside sources tell him that public servants who try to withdraw their money get only what they have put in - none of the state's 8.4 per cent share plus interest earned is withdrawn. He said Nambawan Super cannot pay out until the government clears its debt. Mr Polye says the company has not formally said it has an issue with the government contributions but that is not the information he is getting. "Some 200,000 contributors throughout the country and I can smell a rat there. I can smell a rat there because it looks somewhat very similar to the National Provident Fund that saw people lose billions of contributions right around the country." RNZI
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