About CTSL

Home About CTSL

Since 2003, Comrade Trustee Services Limited has been the proud trustee for the Defence Force Retirement Benefit Fund.

Our vision and mission help drive our commitment to meet members’ needs and prudently manage the fund.

Below you’ll find a wealth of information about CTSL and the Fund. Contact us if you have further queries.

Our Vision and Mission

The vision, mission and values that challenge us to meet the highest professional and ethical standards.

The fund

About the Defence Force Retirement Benefit Fund, an authorized superannuation fund under the Superannuation (General Provisions) Act 2000.

The trustee

About Comrade Trustee Services Limited, trustee for the Fund since 2003.

The board

The Fund’s board of directors, including its current members and its role in managing the Fund’s strategic direction.

Corporate governance

The collection of rules, practices and processes used to operate the Fund, and how we en-sure good corporate governance.

Fund administrator

The role and functions of Kina Investments & Superannuation, the Fund’s external administrator.

Fund manager

The role and functions of Kina Funds Management Limited (KFM), the Fund’s external fund manager.

The Board

MR. CHETAN CHOPRA

CHAIRMAN & INDEPENDENT DIRECTOR

Chetan Chopra was appointed Chairman of the Board in November 2025.

Chetan Chopra is a widely experienced finance executive and joins the CTSL Board after spending the past 6 years as CFO of Kina Securities Limited. Prior to that Chetan was the CFO of PNG’s largest superannuation fund, Nambawan Super Limited. An accountant by profession, Chetan previously worked for many years as a PNG partner for KPMG and as CFO for Dun and Bradstreet South Asia. He has also held a number of senior leadership roles in both private companies and public sector organizations, including the Australian Taxation Office.

Chetan brings a complimentary mix of entrepreneurial CFO skills and financial governance expertise which he has developed during the 35 years working in the financial services industry in investment, superannuation and financial services globally including 16 years in Papua New Guinea (PNG). He has significant experience-based understanding of provincial and community development needs in PNG communities supported by extensive networks, professional relationships, and business partnerships globally and in PNG.

REAR ADMIRAL PHILIP POLEWARA,MBE

SHAREHOLDER DIRECTOR

Rear Admiral Philip Polewara was appointed to the Board on 24 June 2016 and reappointed on 2 August 2023. Rear Admiral Polewara represents the contributory members of the Fund and is currently a member of the CTSL Investment and Membership Committees, and he is also a member of the Toea Homes Limited Board.

Rear Admiral Polewara served as a Naval Officer in various capacities on Landing Crat Heavy and Fast Patrol Boats as a Navigating Officer and Executive Officer. His operational experiences include the command of various Naval Units from 1992 to 2022, including security operations during the Bougainville crisis.

Rear Admiral is a graduate of the US Naval Staff College, the US Joint Forces Staff College, and the US Naval Command College. He also served as an International Fellow at the Naval War College after graduating in 2013.

Rear Admiral has a Bachelor of Business in Public Policy from UPONG and a Master of Liberal Arts in International Relations from Salve Regina University in Newport, US.

Rear Admiral is a member of the PNG Institute of Directors.

MR. CHARLES LEE

DIRECTOR

Charles Lee was appointed to the Board on 4 August 2023 and is currently the Chairperson of the CTSL Investment Committee. He, is currently the Chairman of the Toea Homes Limited Board since 7 November 2023.

Charles has over 18 years of practical experience in superannuation, banking, investment advisory, funds management and insurance both at the executive management and board levels.

He was a former Chief Investment Officer at Nasfund before taking on Board and Committee roles at BSP Financial Group, Capital Insurance Group where he was Chair of the Audit and Risk Committee, Trukai Industries and Amalgamated Packaging Limited. Charles was the recipient of the 2018 Papua New Guinea Institute of Director's Young Director of the Year Award.

He holds a bachelor’s degree in business economics from the University of Papua New Guinea and postgraduate qualifications from Kaplan Institute Australia, and Melbourne Business School in Applied Finance, and Management respectively.

MR. WARWICK GEORGE VELE

DIRECTOR

Mr. Warwick George Vele joined CTSL Board on 4 August 2023 and is currently the Chairperson of the CTSL Membership Committee and a member of the Investment Committee.

Warwick brings to the role a wealth of industry experience in Superannuation, Banking and Finance, ICT, and Investment roles. His capability also extends to include International Development both in the Regional and Global space. He was previously the Chief Technology Officer and then the General Manager Strategic Partnerships for Kina Securities Limited. Warwick was also the Chief Operating Officer at Nasfund. His current role is Program Implementation Director for DT Global (which acquired Cardno International Development).

Warwick holds a Bachelor in Science from the University of Sydney.

MR. VERA RAGA

DIRECTOR

Vera Raga joined the Board of CTSL on the 4 August 2023 and is the Chairperson of the Remuneration and Nomination Committee.

Vera was previously a board member of Nasfund and NCSL before joining the board of CTSL, so he has experience in the superannuation and savings and loans industry. Vera is also the EO of the Association of Superannuation Funds of Papua New Guinea. He has also been a board member of past and present companies and state-owned government and regulatory boards including National Housing Corporation (NHC) and Special Economic Zone Authority (SEZA) of Papua New Guinea.

Vera is a registered member of the AICD, PNGID, and the Law Society of Papua New Guinea and practices law as an associate to Diwenis Lawyers. Vera has extensive experience as a trade union advocate for workers, has been a member of the National Tripartite Consultative Council (NTCC) representing the PNG Banks & Financial Institutions Workers Union (PNGBFIWU), maintains a good network in the best interest of the Fund and holds a Bachelor of Law degree from the University of Papua New Guinea.

MRS. JUDY NETE KUK

INDEPENDENT DIRECTOR

Judy Nete Kuk is an accomplished finance executive with more than 20 years of senior leadership experience across aviation, state-owned enterprises, and the private sector. She is currently the Chief Financial Officer of Air Niugini Limited, where she led the implementation of Oracle Fusion Cloud ERP and the modernisation of enterprise-wide financial systems.

Judy previously served as Chief Financial Officer of Kumul Consolidated Holdings, playing a key role in completing statutory audits and strengthening balance-sheet discipline under the national SOE Reform Agenda.

COLONEL RODNEY MANIHUAZI YAHAMANI

NON - INDEPENDENT DIRECTOR, STAKEHOLDER REPRESENTATIVE – CONTRIBUTORY MEMBERS

Colonel Rodney Manihuazi Yahamani brings over 25 years of distinguished service in the Papua New Guinea Defence Force, including senior leadership roles such as Director of Legal Services at Defence Headquarters. His career spans strategic planning, military operations, legal and defence administration, providing disciplined insight into governance, risk management, and organisational performance.

As the Shareholder Representative for contributory members, Colonel Yahamani strengthens CTSL’s commitment to integrity, accountability, and the long-term interests of members.