Solomon Islands National Provident Fund

What Solomon Islands National Provident Fund does

Solomon Islands National Provident Fund (SINPF) is a statutory retirement savings scheme established by the SINPF Act 1973 and in operation since 1 October 1976, headquartered in Honiara, Solomon Islands. It administers mandatory retirement savings for formal-sector employees, requiring a combined 12.5% of gross salary (employee minimum 5%, employer 7.5%) to be remitted monthly by registered employers through an Electronic Data Interface (EDI) system. The Fund is supervised by the Central Bank of Solomon Islands under the Financial Institutions Act, with the Minister of Finance holding ultimate oversight authority; a statutory minimum crediting rate of 2.5% was codified in the SINPF Amendment Act 2018, and the FY2025 announced crediting rate was 8% applied to member balances.

SINPF operates three offices (Honiara HQ, Auki, Gizo) complemented by two primary digital channels — the NPF Online Portal and the youSave e-Connect mobile application integrated with the M-SELEN mobile money platform. Beyond the compulsory scheme, the Fund extends coverage to self-employed individuals aged 16-51 through the youSave voluntary savings product, and offers mobileFund micro-loans (30-day tenor, 10% facility fee, 2.5% rollover penalty) disbursed via M-SELEN.

The investment portfolio exceeds SBD $2.4 billion, allocated 70% domestic / 30% offshore (USA, Australia, Europe, PNG) across equities, fixed income, and property, with a 2017 strategic asset mix of 37% low risk, 28% medium, and 35% high risk. SINPF controls and partially owns a portfolio of subsidiaries spanning the Solomon Islands economy: 97.32% of Solomon Telekom Co. Ltd (which underpins M-SELEN), 100% of South Pacific Oil Ltd and Solomon Housing, the wholly-owned credit institution Solomon Finance Limited (interim CBSI license granted November 2019), a 40.5% stake in tuna processor Soltuna, plus co-investments in Heritage Park Hotel and King Solomon Hotel and cross-border stakes in PNG's Loloata Island Resort. The Fund is governed by a Board of Directors chaired by Sir Dr. Jimmie Rodgers, with Mike Wate serving as CEO/General Manager.

Name

Solomon Islands National Provident Fund

Legal name

Solomon Islands National Provident Fund

Website

https://sinpf.org.sb

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

51–100 employees

Short description

Solomon Islands National Provident Fund (SINPF) is the statutory retirement savings scheme for formal-sector workers in the Solomon Islands, collecting 12.5% of gross salary and investing a SBD $2.4B+ portfolio across equities, fixed income, property, and offshore markets.

Ownership category

akta.pro rank

Product category

Pension Fund Management

NAICS

Pension Funds (525110), Pension Funds (52511)

SIC

Services-Membership Organizations (8600), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

akta.pro secondary industry

Worksite Financial Wellness & Employee Assistance Programs (EAP) (FSAIAMAN)

Keywords

• Retirement savings
• Pension fund
• Voluntary savings
• Micro-lending
• Investment management

Headquarters

HQ city

Honiara

HQ country

Solomon Islands

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Compulsory Contributions: Mandatory retirement savings contributions from employers (7.5%) and employees (5%) totaling 12.5% of gross salary. Contributions are pooled and invested across various asset classes to generate returns for members.
2. Voluntary Excess Contributions: Members can authorize additional voluntary contributions beyond the minimum 5% on top of compulsory contributions, increasing their retirement savings balance.
3. youSave Voluntary Savings: Voluntary mobile-based savings scheme for self-employed individuals aged 16-51, with deposits made as and when desired, growing with annual NPF dividend.
4. mobileFund Micro-Loans: Micro-loan product offering advances to eligible youSave members. Revenue generated through facility fees (10% of loan amount) and rollover penalty fees (2.5% of outstanding amount).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Solomon Islands National Provident Fund (SINPF) operates as a statutory defined-contribution retirement savings scheme for Solomon Islands workers, collecting compulsory monthly contributions (12.5% of gross salary: 7.5% employer + 5% employee minimum). It invests pooled contributions across equities, properties, fixed income, and offshore markets, returning credited annual rates to member accounts. It also provides voluntary mobile savings (youSave) for the self-employed and micro-loans (mobileFund) through partner platforms.

Product overview

Solomon Islands National Provident Fund (SINPF) operates as a unified pension and retirement savings platform for Solomon Islands workers. The core offering is the compulsory provident fund established under Act 1973, supplemented by the youSave voluntary savings scheme targeting self-employed workers. Technology-enabled products include youSave LoMobile (mobile savings via M-SELEN) and mobileFund (mobile loans disbursed to M-SELEN accounts). SINPF manages a diversified investment portfolio through multiple wholly-owned and partially-owned subsidiaries including Solomon Finance Limited (credit/loans), Solomon Telekom Co. Ltd (telecommunications), South Pacific Oil Ltd, Soltuna, and hospitality investments (Heritage Park Hotel, King Solomon Hotel, Loloata Island Resort). The NPF Online Portal and youSave e-Connect app provide member self-service channels.

Differentiator

Problem solved

Functional benefit

Brands

• youSave: Voluntary mobile savings scheme designed for self-employed individuals aged 16-51 years, allowing deposits as and when they want to save
• mobileFund

Products and services

• Solomon Islands National Provident Fund (SINPF) A statutory defined-contribution pension fund for Solomon Islands workers; members contribute a minimum of 5% and employers contribute 7.5% of gross salary, pooled and invested to provide retirement, incapacity, migration, redundancy, and survivor benefits.
• youSave Voluntary mobile-based savings scheme designed for self-employed individuals aged 16-51 who lack employer-sponsored retirement coverage. Allows flexible deposits anytime, growing with annual NPF dividends.
• mobileFund Mobile micro-loan product offering small personal loans to eligible youSave members. Loans are disbursed to M-SELEN mobile money accounts with a 30-day repayment term, 10% facility fee, and automatic rollover with a 2.5% penalty for non-repayment.
• NPF Online Portal Online self-service portal allowing members to check whether employer contributions have been credited to their NPF account and access member services.
• Solomon Finance Limited Wholly-owned SINPF subsidiary that provides competitively priced small personal loans and home loans to NPF members, operating as a licensed credit institution.

Quantifiable outcome

• 8% crediting rate for FY2025 applied to member account balances as of 30 June 2024
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered major, significant and core.

• Australian Government (DFAT)majorStrategic or Co-development Partner · 26 May 2026DFAT Town Houses lease agreement signed in Honiara for new townhouse development. The Australian Government is a blue chip tenant providing strong additional rental incomes to the Fund's property investment portfolio. The project demonstrates confidence in Solomon Islands housing sector and represents a strong bilateral partnership.
• Private Islands Investments Ltd (PIIL)significantChannel Partner/ Reseller/ Distributor · 20 April 20215-year lease agreement for Tavanipupu Island Resort with option to renew. PIIL has strong exposure to hospitality sector with investments in travel agency, spa & wellness, and food & beverage. SINPF Board strategy is to protect and grow the value of members' investment in the resort.
• Central Bank of Solomon Islands (CBSI)coreStrategic or Co-development Partner · 1 November 2019CBSI granted Solomon Finance Limited (wholly-owned SINPF subsidiary) an Interim License to carry on banking business as a credit institution. Valid for 12 months with conditions for providing competitively priced personal loans and home loans to members upon receiving full credit license.
• Nasfund (PNG)majorStrategic or Co-development Partner · 14 May 2018Melanesian cooperative investment partnership in Heritage Park Hotel (Nasfund 60%, SINPF 10%, Hospitality Plus Hotels 20%) and Loloata Island Resort (Nasfund 50%, SINPF 15%, Lamana Development 35%). SINPF acquired 15% in Loloata Island Resort for K12 million (approx. SBD $30 million) from BSP equity investment returns.
• O'Neill Remington GroupcoreStrategic or Co-development PartnerJoint venture partnership for King Solomon Hotel acquisition with SINPF holding 55% and O'Neill Remington Group 45%. Former Prime Minister Manasseh Sogavare praised the investment in tourism sector, noting it will produce strong financial results, uphold hospitality standards, and provide employment opportunities. Phase 1 includes modernization of reception, dining, kitchen facilities and micro brewery establishment.
• Telekom Digital Limited (M-SELEN)coreTechnology or IntegrationIntegration partnership for youSave mobile savings and mobileFund micro-loan services through M-SELEN mobile money platform. SINPF youSave allows members to deposit and withdraw using mobile devices. mobileFund advances loans to eligible youSave members with proceeds credited to M-SELEN accounts.

Scale indicators8 records

Recent moves10 records

Expansion highlights8 records

Broad incumbents

• AustralianSuper: Large Australian superannuation fund — comparable as a statutory employer/employee-mandated retirement scheme with diversified portfolio management, though vastly larger scale; useful reference for investment governance and product expansion benchmarks.
• EPF Malaysia (Employees Provident Fund): Malaysia's Employees Provident Fund — one of the world's largest statutory defined-contribution retirement schemes, structurally analogous to SINPF with employer/employee mandatory contributions and a diversified investment portfolio.
• Bank South Pacific (BSP): Pacific regional bank in which SINPF holds 2.5M+ shares; BSP serves as SINPF's banker, equity investment, and Melanesian capital partner, providing a regional incumbent comparable for cross-border Pacific capital deployment.

Direct peers

• Nasfund: Papua New Guinea's National Superannuation Fund — comparable statutory defined-contribution provident fund covering formal-sector workers, with similar employer/employee contribution structure and an investment portfolio that SINPF co-invests in (Heritage Park Hotel, Loloata Island Resort).
• Kiribati Provident Fund: Kiribati's national provident scheme — another Pacific peer with comparable statutory retirement mandate, providing a regional benchmark for small-jurisdiction provident fund operations.
• Samoa National Provident Fund: Samoa's national provident fund — comparable statutory defined-contribution retirement savings scheme serving the formal sector in another Pacific Island jurisdiction with similar contribution-rate structure.
• Tonga National Provident Fund: Tonga's national provident fund — regional peer operating a compulsory retirement savings mandate, structurally similar to SINPF as a small Pacific Island provident scheme.
• Fiji National Provident Fund: Fiji's statutory national provident fund — directly comparable Pacific-Island defined-contribution scheme with employer/employee mandates, diversified investment portfolio, and member lending operations.
• Vanuatu National Provident Fund: Vanuatu's national provident fund — another small Pacific statutory provident scheme operating a compulsory retirement savings mandate with investment portfolio management, closely comparable in scale and structure to SINPF.

Emerging players

• Our Telekom (Solomon Telekom): Solomon Islands telecom in which SINPF holds 97.32% — strategically critical because M-SELEN mobile money is the platform enabling youSave and mobileFund; comparable as a domestic financial-services infrastructure provider inside the SINPF ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/solomon-islands-national-provident-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Solomon Islands National Provident Fund