Vanuatu National Provident Fund (VNPF) is spending around VT1.2 million a month on temporary office space following extensive damage to its headquarters from last year’s earthquake.

General Manager Paul Kaun told VBTC News that the Fund is currently paying VT650,000 monthly for space at the former VFF office, and an additional VT600,000 for another building behind PVIS.

“Our monthly rental costs have increased significantly since relocating,” Mr Kaun said.

He added that VNPF has already spent approximately VT106 million to demolish five of its damaged buildings — with VT101.4 million covered by insurance and the remainder paid by the Fund.

A structural assessment is now underway on the main VNPF office building to determine whether it can be partially reused or must be demolished entirely.

“If the assessment finds the building — without the top floor — is still structurally sound, we may return. If not, it will have to come down,” Kaun explained.

Mr Kaun also confirmed that a tender process had estimated earthquake-related damages at around VT53 million, but some claims were rejected by the insurer due to excessive or unrelated costs.

“Some contractors submitted figures not directly linked to earthquake damage, so our insurer reassessed and negotiated realistic values,” he said.

Since the earthquake in December 2023, VNPF’s head office has been temporarily operating from Pango, with additional branches in Tassiriki and the former VFF office.