Comrade Trustee Services Limited

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Comrade Trustee Services Limited As such, CTSL is legally responsible for the prudent management of the Fund.

Comrade Trustee Services Limited (CTSL) is the licensed corporate trustee for the Defence Force Retirement Benefit Fund, as approved by the Bank of Papua New Guinea. Comrade Trustee Services Limited (CTSL) is the successor in law to the Defence Force Retirement Benefit Fund Board (the Board) and has been approved by the Bank of Papua New Guinea (BPNG) as the licensed trustee for the Fund. As the trustee, CTSL has ultimate legal responsibility for the prudent management and administration of the Fund. Subject to the Superannuation (General Provisions) Act 2000 (the Act) and the governing rules of the Fund the trustee has the discretion generally to do all such acts as it considers necessary or expedient for the sound administration, maintenance, investment and preservation of the Fund.

29/10/2026

CTSL & PNG Defence Force🎥

In Episode 4, we sit down with SGT. Napoleon Tonibuya to hear his story, his journey in the Papua New Guinea Defence Force, and his experience as a CTSL member.

Another story from the men and women who serve our nation — beyond the uniform.

Watch Episode 4 now.

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Growth is not always about becoming someone new. Sometimes, it means letting go of the person you used to be.The version...
29/10/2026

Growth is not always about becoming someone new. Sometimes, it means letting go of the person you used to be.

The version of you that makes excuses, avoids difficult decisions, seeks approval, and chooses comfort over progress cannot lead you toward the future you want.

You cannot build a disciplined life while holding on to habits that destroy your focus. You cannot become confident while constantly allowing fear to make your decisions. And you cannot move forward if you keep returning to the same mistakes.

Real growth requires sacrifice. Old habits must end. Weak excuses must disappear. Your mindset must change, even when the process feels uncomfortable.

But remember, you don't have to hate your past self to become better. That version of you survived difficult days and taught you valuable lessons.

Respect who you were, but take responsibility for who you become.

The greatest transformation begins when your desire to grow becomes stronger than your desire to remain comfortable.

CTSL - Your Fund of Choice
Redefining Excellence in Service.

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THE FIVE TYPES OF WEALTH THAT DEFINE A TRULY RICH LIFEThe person you become in five years will largely be determined by ...
28/10/2026

THE FIVE TYPES OF WEALTH THAT DEFINE A TRULY RICH LIFE

The person you become in five years will largely be determined by the choices you make today.

We often measure wealth by money, property, investments and material possessions. Yet some of the richest people financially are among the poorest in other dimensions of life.

True wealth is multidimensional. It is not simply about how much you accumulate, but the quality of life you build, the person you become and the legacy you leave behind.

There are five fundamental types of wealth worth pursuing.

1. Financial Wealth – The Freedom to Choose

Money provides security, independence and opportunities. Financial wealth is not merely about accumulating assets, but building sufficient resources to live without constantly worrying about survival.

The ultimate purpose of money is freedom, not endless consumption.

2. Health Wealth – The Foundation of Everything

Without physical and mental well-being, financial wealth loses much of its value.

Good health gives us the energy, vitality and longevity to enjoy everything else we have worked to achieve.

You can recover lost money, but recovering lost health is often far more difficult.

3. Time Wealth – The Most Irreplaceable Asset

Time is the only resource that cannot be earned, borrowed, purchased or recovered once spent.

True wealth means having control over your time, the freedom to pursue meaningful activities and the opportunity to spend your remaining years doing what matters most.

A wealthy person without time is still poor in one of life's most important currencies.

4. Social Wealth – The Richness of Relationships

Family, friendships, trust, love and meaningful human connections are forms of wealth that money cannot necessarily purchase.

The people we surround ourselves with influence our thinking, behaviour, ambitions and ultimately our destiny.

A successful life without meaningful relationships can become an empty achievement.

5. Intellectual and Spiritual Wealth – The Wealth Within

Knowledge, wisdom, character, values, purpose and inner peace determine who we become.

The books we read, conversations we engage in, habits we develop and experiences we pursue continuously shape our minds and character.

Intellectual wealth expands our understanding of the world. Spiritual wealth gives meaning to our existence and guides how we use everything else we possess.

THE GREATEST INVESTMENT IS IN YOURSELF

Every day, whether consciously or unconsciously, we are investing in the person we will become.

What we eat determines our future health. What we read determines our knowledge. Who we associate with influences our character. How we spend our time determines our achievements. How we manage our money determines our financial independence.

The quality of our future is largely the compound result of our daily choices.

Do not spend your entire life building financial wealth at the expense of your health, time, relationships and personal growth.

There is little value in becoming financially wealthy if you have sacrificed everything else that makes life worth living.

The ultimate measure of wealth is not how much money you have accumulated, but how richly you have lived across all five dimensions.

The person you will become in five years is being shaped by the decisions you make today.

Choose wisely.

CTSL - Your Fund of Choice
Redefining Excellence in Service.

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24/10/2026

Five things you should invest in besides stocks. Number one, invest in learning valuable skills, because the more problems you can solve, the more opportunities you have to earn money. Number two, invest in your health, because all the money in the world means little if you're too sick to enjoy it.

Number three, invest in building an emergency fund, so unexpected expenses don't force you into debt. Number four, invest in a small business or side hustle that can eventually bring you income beyond your regular job. Number five, invest in building meaningful relationships, because the right connections can open doors that money alone cannot.

CTSL - Your Fund of Choice
Redefining Excellence in Service.

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Your future is not built through intentions alone.It is shaped by the habits you develop, the commitments you honor, the...
20/10/2026

Your future is not built through intentions alone.

It is shaped by the habits you develop, the commitments you honor, the people you invest in, and the choices you repeat every day.

You won’t always feel the progress. That doesn’t mean it isn’t happening. Every consistent action is a DEPOSIT into a future you haven’t met yet.

CTSL - Your Fund of Choice
Redefining Excellence in Service

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One massive effort can create a temporary result, but consistent effort creates lasting change. You don't need to do eve...
20/10/2026

One massive effort can create a temporary result, but consistent effort creates lasting change.

You don't need to do everything at once. Keep taking small steps, even when nobody notices.

You don't have to be extraordinary every day. You just have to show up every day.

Consistency beats occasional intensity.

CTSL - Your Fund of Choice
Redefining Excellence in Service

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DON'T JUST RETIRE FROM EMPLOYMENT. RETIRE TO SOMETHING GREATER IN LIFE.Retirement should never be the end of your produc...
19/10/2026

DON'T JUST RETIRE FROM EMPLOYMENT. RETIRE TO SOMETHING GREATER IN LIFE.

Retirement should never be the end of your productive life. It should be the beginning of something greater.

For decades, we dedicate our time, energy, knowledge and experience to building careers, serving organisations and helping others achieve their goals. But somewhere along that journey, we must also ask ourselves: What about our own bigger dreams? What about the greater purpose we were meant to fulfil?

Don't spend your entire working life preparing to retire from employment without preparing for what you will retire into.

Retire from employment, but never retire from purpose.

Retire to pursue the dreams you have postponed for decades. Retire to build businesses, develop farms, create opportunities, mentor younger generations, strengthen communities and contribute meaningfully to our country's development.

Your accumulated knowledge, experience, relationships and wisdom should become the foundation for your next great undertaking.

After 30 or 40 years of employment, you should not simply withdraw from productive life. You should be better equipped than ever to pursue something bigger than yourself.

Employment may have provided your livelihood, but your greater purpose can define your legacy.

The greatest achievements of your life may not necessarily happen during your employment years. They may come afterwards, when you finally have the freedom, experience and determination to pursue what truly matters to you.

Don't measure retirement by how much time you have left to rest. Measure it by how much more you can accomplish, how many lives you can transform and what lasting legacy you can leave behind.

Don't just retire from a job. Retire to a bigger purpose, greater dreams and a more meaningful life.

Because the end of your career should never mean the end of your ambition.

CTSL - Your Fund of Choice | Building Trust. Creating Value

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CTSL PAYS TRIBUTE TO CHEY SCOVELL FOR 19 YEARS OF OUTSTANDING LEADERSHIP16 October 2026 | Port MoresbyComrade Trustee Se...
16/10/2026

CTSL PAYS TRIBUTE TO CHEY SCOVELL FOR 19 YEARS OF OUTSTANDING LEADERSHIP

16 October 2026 | Port Moresby

Comrade Trustee Services Limited (CTSL) joins Papua New Guinea's manufacturing sector and the wider business community in paying tribute to Mr Chey Scovell, who steps down as Chief Executive Officer of the Manufacturers Council of Papua New Guinea after 19 years of dedicated service.

Nineteen years is more than a tenure. It represents nearly two decades of commitment, perseverance and unwavering advocacy for an industry that plays a vital role in Papua New Guinea's economic development.

Since 2007, Chey has been a consistent and influential voice for PNG manufacturers, championing their interests, navigating complex regulatory challenges and engaging successive governments on policies affecting investment, business competitiveness and economic growth.

His contributions have extended beyond the manufacturing sector, strengthening relationships between government and the private sector while advocating for a more conducive environment for businesses to thrive.

CTSL Chief Executive Officer Charlie Gilichibi paid tribute to Mr Scovell's remarkable service.

"Some leaders are remembered for the positions they held. Others are remembered for the difference they made. Chey's 19 years of dedicated service have left an enduring legacy for PNG manufacturers and the wider business community. His commitment, resilience and tireless advocacy deserve our deepest appreciation."

CTSL acknowledges that behind nearly two decades of leadership lie countless challenges, sacrifices and achievements that have contributed to strengthening Papua New Guinea's private sector.

On behalf of the Board, Management and staff of CTSL, we extend our sincere gratitude to Chey for his outstanding contributions and wish him every success, happiness and fulfilment in his future endeavours.

We also congratulate Mrs Mandy Newton on her appointment as the incoming Chief Executive Officer of the Manufacturers Council, effective 19 October 2026.

Thank you, Chey Scovell, for 19 remarkable years of service to Papua New Guinea.

Comrade Trustee Services Limited (CTSL)

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CTSL AND PNGDF WORK TOGETHER TO STRENGTHEN MEMBER RECORDSMore than 300 member records updated -strengthening accountabil...
13/10/2026

CTSL AND PNGDF WORK TOGETHER TO STRENGTHEN MEMBER RECORDS

More than 300 member records updated -strengthening accountability and supporting better service for our members.

CTSL’s commitment to members extends beyond processing benefits. It includes ensuring member information is accurate, current and reliable.

At the invitation of the PNGDF Personnel Services Branch, CTSL’s Member Services team has been supporting the PNGDF Force Audit to update member records and resolve outstanding biodata issues.

Since commencing in August, the exercise has covered almost all Port Moresby-based units. The team has updated more than 300 records, resolving gaps in personal information and addressing record discrepancies.

This collaboration has also assisted PNGDF in identifying 17 suspected ghost member accounts and discharged personnel who remained on the PNGDF payroll, for further verification and corrective action.

The exercise will extend to units outside Port Moresby, building on this progress to improve personnel records and resolve outstanding CTSL member queries.

Through practical support and close cooperation with PNGDF, CTSL continues to strengthen accountability, build trust and improve service delivery for the men and women who serve our nation.

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CTSL - Your Fund of Choice | Building Trust. Creating Value

FROM ROKU VILLAGE TO LEADERSHIPA story of sacrifice, perseverance, opportunity and the payoff from investing in peopleTh...
12/10/2026

FROM ROKU VILLAGE TO LEADERSHIP

A story of sacrifice, perseverance, opportunity and the payoff from investing in people

There are promotions that recognise a new position, and there are promotions that tell a much bigger story. Nopiri Dekeva’s promotion to Manager Finance and Administration of Toea Homes Limited (THL) is one of those stories.

His journey did not begin with privilege or certainty. It began in Roku Village in Central Province, where he was raised with three siblings by his mother, Dekeva Mabi, who carried the responsibility of providing for the family on her own. She had no formal employment. She sold seashells and took whatever work she could find to put food on the table and keep her children moving forward. There were times when the family lived with relatives under one roof, and nights when there simply was not enough food for everyone.

Yet from those difficult beginnings came discipline, resilience and a determination to make something of every opportunity. Nopiri progressed from Roku Community School to Porebada Primary School, Redscar High School and Sogeri National High School before earning a place at the University of Papua New Guinea to study Business and Management.

Then, while he was at university, tragedy struck. His mother - the woman who had sacrificed so much and carried the family through its hardest years - passed away before she could see the full reward of those sacrifices. For a young man still trying to complete his education and build a future, it was a devastating loss. But he kept going. The sacrifices his mother made became part of the motivation that carried him forward.

FROM HUMBLE BEGINNINGS TO PROFESSIONAL GROWTH

After graduating from university, Nopiri faced another difficult chapter. A degree did not translate immediately into employment. For almost two years he struggled to find work while trying to build a future and support his young family. When an opportunity finally came, it was not an accounting or management position, but casual work as a Wharf and Gate Clerk with Avenell Engineering Systems Limited. He took it with humility and determination, believing that no job was too small when you were trying to build your future. Through hard work and a willingness to learn, he was later promoted to Berth Planner, laying the foundation for the professional career that would follow.

His journey eventually brought him to Comrade Trustee Services Limited (CTSL) as a Fund Accountant. From there, he continued to earn greater responsibility, progressing through Financial Accountant, Management Accountant and Team Leader roles while strengthening his capability across financial reporting, fund accounting, budgeting, forecasting, prudential reporting, governance and leadership.

“Promotion is not a reward for what an employee has done; it is a strategic investment in what the employee can continue next.”
- Charlie Gilichibi, CEO, CTSL

Nopiri fits naturally into the culture CTSL has deliberately built. He is hardworking, accountable, humble and willing to take responsibility when difficult work needs to be done. He contributes significantly to shaping our high-performance culture - a workplace where people feel safe, supported and genuinely excited about coming to work, with many staff arriving even before 7.00am because they want to be here and contribute.

STEPPING UP WHEN THL NEEDED HIM

One of the strongest demonstrations of Nopiri’s capability came when he was seconded from CTSL to THL to help address its long-outstanding financial audits and strengthen its finance function. It was not an easy assignment.

Nopiri contributed significantly to the completion of the 2022 audit and then helped drive the completion of the outstanding 2023, 2024 and 2025 audits. In the process, he helped stabilise THL’s accounting function and strengthen financial management, reporting, governance and administration.

“I thank Nopiri for his service to CTSL and subsequently to THL. He is a great pleasure to work with everyday. He stepped into a difficult environment, helped stabilise the accounting function and contributed significantly to completing years of outstanding audits. He continues to do great work, and this promotion is thoroughly deserved.” - Charlie Gilichibi, CEO, CTSL

SUCCESSION PLANNING THAT IS NOW PAYING OFF

Nopiri’s story is also part of a wider transformation at CTSL. Since 2020, we have deliberately developed a succession plan focused on identifying talent, developing leadership capability and creating pathways for our people to grow into larger responsibilities. That programme is now at a mature stage where CTSL can increasingly harvest from the talent it has developed internally to fill key roles going forward.

• Dorothy Duwaba - after serving as Personal Assistant to the CEO for more than 10 years, progressed into the role of Risk and Compliance Officer.
• Mary Tamarua - progressed from Manager Investments to General Manager Investments.
• Darusilla Musi - progressed from General Manager Human Resources to General Manager Corporate Services, taking on broader responsibilities.
• Nopiri Dekeva - developed through multiple finance roles within CTSL and has now progressed to Manager Finance and Administration of THL.

CTSL has supported that succession pipeline with substantial investment in education and professional development, both locally and overseas.

Company Secretary Raka Raula undertook an executive programme at Harvard University with a similar leadership and governance focus to advanced director education at the Australia Institute of Company Directors (AICD). Nopiri is currently undertaking a Master of Professional Accounting through the University of New England in New South Wales, Australia. Two employees have graduated from MBA studies through UPNG and UNITECH respectively; five employees are undertaking various degree programmes through UNITECH’s online platform; and others are completing degree and diploma programmes through PNGHRI, ITI and Datec.

This is what succession planning should look like in practice. It is not a document sitting on a shelf. It is about identifying potential, investing in people, exposing them to increasingly difficult responsibilities, and then trusting them to step up when the opportunity comes.

THE PAYOFF

From a childhood where his mother struggled alone to provide for four children, to losing her while he was still pursuing his university education; from graduating and then spending almost two years struggling to find employment, to accepting casual work simply to get a start; and from there to building a professional career in finance and leadership - Nopiri’s journey has never been about an easy road.

His story is also a reminder that individual determination produces its greatest results when an organisation is prepared to recognise potential and invest in it. Nopiri brought the discipline, resilience and willingness to learn. CTSL provided the environment, opportunities, training and succession pathway for that potential to continue developing.

Today, he is continuing that journey while studying toward his Master of Professional Accounting and leading the Finance and Administration function at THL. The young boy from Roku Village, raised by a single mother who did everything she could to give her children a chance, is now helping lead and strengthen an important subsidiary of CTSL.

On behalf of the CTSL and THL Boards, management and staff, I congratulate Nopiri Dekeva on his well-deserved promotion to Manager Finance and Administration of Toea Homes Limited. He has stabilised our accounting function and continues to do great work.

We thank him for his service, congratulate him on this next chapter, and wish him every success into the future. Nopiri is another great example of what can happen when perseverance meets opportunity - and when an organisation has a genuine succession plan and talent development programme in place.

Charlie Gilichibi
Chief Executive Officer
Comrade Trustee Services Limited (CTSL)

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Address

Comrade Haus, (Off Frangipani Street) Hohola
Port Moresby
121

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Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
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