Superannuation arrangements

Superannuation arrangements (2025)

The Government of Nauru operates two active retirement schemes:

• Nauru Superannuation Scheme is available for all Nauruan resident employees
• Parliamentary Pension Scheme is available for members of Parliament subject to meeting length of service requirements.

These Funds are under the Department for Finance’s supervision and compliance.

Nauru Superannuation Scheme (NSS)

The NSS operates under the Nauru Superannuation Act 2019 and subsequent amendments.  It is a defined contribution scheme with employer contributions initially was set at 5 per cent of superannuable salary and matching 5 per cent employee contribution. 

In the 2025-26 Budget there was an increase in the Employers contribution from the 5% to 10%.  This will need a change in legislation and will be commenced once complete.

SuperLife, a New Zealand-based superannuation fund, manages and administers the NSS on behalf of the Department for Finance and Fund members.  Eriksen Global (NZ) is the Fund manager and Actuary.  The Department for Finance manages the relationship with SuperLife, Eriksen Global and the NRO is responsible for oversight compliance with the Act. 

As of 30 June 2025, there were roughly 6,000 employee members. 

Parliamentary Pension Fund (PPS)

The PPS is a defined benefit fund established under the Parliamentary Pension Act 2008.  The funding of this retirement Fund is by annual GON Budget support. The required contribution amount is set based on an actuarial study to ensure the PPF can self-fund long-term to a sustainable value to support pension payments.  There is an updated Actuary valuation after each election or as the benefits and member numbers change over time.

SuperLife as the administrators of all investment, payments to retired parliamentarians as per the Act and works closely with the Department for Finance and the Fund manager.  Payments are based on length of service and times each pensioner held various ministerial, Speaker of President roles.  As at the 30^th June 2025 there were 18 pensioners in the scheme,

The Department of Finance works closely with the Clerk of Parliament to ensure all ex-parliamentarians with entitlements consistent with the Act are paid their pensions from the fund on a fortnightly basis.