His Majesty King Tupou VI as he cuts the ribbon to officially open the new Retirement Fund Board Office.
His Majesty King Tupou VI officially opened the new office building of the Retirement Fund Board, on the 12th February 2016. Present in this occasion was Her Majesty Queen Nanasipau’u, the Honourable Prime Minister, Samuela ‘Akilisi Pohiva and Cabinet Ministers, the Speaker of the Legislative Assembly, Lord Tu’ivakanō and Members of Parliament, Heads of Diplomatic Missions, Chief Executive Officers of Government Ministries and guests from the private sector.
The 1,731 square meter two storey building is situated on the corner of Mateialona and Railway Roads and will accommodate the staff of the Retirement Fund Board and also provide rental office space for the Office of the Commissioner for Public Relations.
At a cost of approximately T$8.1 million, the building took fourteen months to construct with the main contractor being the China Civil Engineering Construction Corporation (CCECC) Tonga Ltd. The Project Manager for the construction was Kramer Ausenco (Tonga). About 70% of the construction was awarded and sub contracted to local companies including PECG, JH Electrical, CDL Aluminium, Best of Tonga Cladding, Magic Signs, SKIPS Joinery and OSCOM Ltd.
The building is the first major project that the Retirement Fund Board has undertaken since its inception in 1999. During its sixteen years of operation, the Retirement Fund Board has accumulated funds under management of up to T$132 million with the building project being its first move in diversifying its investment portfolio into growth asset classes. Future diversifications are envisaged in the near future.
The membership in the Retirement Fund Board consists of the Government Public Service Employees, His Majesty’s Armed Forces and the Retirement Fund Board Staff with a total of 4,864 members.
The operations of the Retirement Fund Board will be relocated and fully operational at its new premises commencing on the 1st March 2016.
Their Majesties, as they enter the new office.
His Majesty King Tupou VI as he unveils the plague that marked the opening of the new office.
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Issued by the: The Prime Minister’s Office, P.O. Box 62, Nuku’alofa, Tonga. Tel: (676) 24 644 Fax: (676) 23 888; For media enquiries- Email: firstname.lastname@example.orgWebsite: www.pmo.gov.to