Chairman of Comrade Trustee Services Limited, Chetan Chopra, has hailed 2025 as a “very fortunate year for the superannuation industry in Papua New Guinea,” praising the fund’s strong performance and critical role in supporting the retirement security of its members.

Chopra began by acknowledging the traditional owners of the land, saying, “Before we start, I'd also like to acknowledge the traditional landowners of this land, the Motu koita people, both past and present. We thank them for allowing us to gather here today and conduct our meetings here.”

Reflecting on CTSL’s success, he noted, “Success in superannuation is not defined by the size but by how effectively we are delivering strong outcomes for our members, including sound financial performance, prudent governance, and responsible stewardship of retirement savings.”

Chopra outlined the progress made since 2023, when an interim board was appointed by the Government of Papua New Guinea.

“We set ambitious goals to reduce risk in our balance sheet, increase annual returns, and establish ethical corporate governance and functional legal structures,” he said, adding, “While doing all of this, we managed our costs in a more responsible and transparent manner.”

He acknowledged the contributions of key individuals, including former chairlady Her Excellency Michelle Hoffa, saying, “Under her steady leadership, the fund made significant progress in strengthening stakeholder engagements and developing internal capability. Her passion for the welfare of service personnel was evident in every discussion we had.”

He explained CTSL’s unique focus on Defense Force members: “CTSL currently serves only 5,000 members. While the size of the fund is small, we see this as a key strength because we are able to understand the requirements of our members.”

On investments, Chopra said, “We have undertaken a comprehensive review of our investment portfolio, identifying opportunities across Papua New Guinea. We have been very strong about exiting investments, much to the dislike of many people, because you’ve got to make an investment decision based on returns and not emotion.” 

He added that Toea Homes has been successfully turned around and is now delivering positive returns.

Chopra highlighted five pillars of success: membership engagement, investment performance, governance and institutional strength, people and capability, and financial performance. On the fund’s 2025 results, he said, “Net asset value reached K899 million, representing 11.8 percent growth. Comprehensive income increased by 32 percent and the board declares a 12.5 percent interest crediting rate for 2025.”

Looking ahead, Chopra outlined plans for 2026 and beyond: “Our priorities will include continued engagement with members, exploring innovative retirement products, strengthening the fund’s balance sheet, expanding investment opportunities across PNG, further development of Toea Homes and maintaining disciplined cost management.”

He concluded, “We remain committed to protecting and growing the retirement savings of the men and women who serve our nation.”