Solomon Islands only social security service provider has declared a record breaking interest rate of 18-percent to be paid to its members.
The 18-percent interest rate is the highest so far in the interest of the Solomon Islands National Provident Fund, or SINPF, since its inception in 1976.
This is in big contrast to the 4-percent interest rate declared in the 2006 financial year.
During this financial year, the fund generated a total income of 18 million US dollars; a huge increase by 193-percent compared to the last financial year income of 6 million US dollars.
The highest interest rate ever paid before to SINPF members 11-percent in 1990.
