The National Retirement Benefits Fund (the Fund) was established on 1st July 2012 for the private sector which composes of the private businesses, church denominations and public enterprises. The Fund operates on the basis of defined contributions, collecting compulsory and voluntary contributions from employers and their employees (members) towards their retirement. In addition, the Fund also manages the Government Social Welfare Scheme on behalf of the Tonga Government and owns shares in Tonga Development Bank (TDB) and Pacific Timber & Hardware (PTH) Ltd.