FNPF members to receive $158.5m

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Fiji National Provident Fund will distribute $158.5m to members’ accounts this Sunday after the Fund announced interest of 5.5 per cent for the 12 months ending on June 30.
FNPF chief Aisake Taito said:“ The 5.5 per cent interest declared is a testament of the success of the reforms and the fund’s continued commitment to grow our member’s funds.
“It is a competitive rate considering the challenging investment climate and that commercial banks are paying less that two per cent.
“This financial year is significant from the fund’s strategic perspective as we begin to realise the benefits of the FNPF reform program flowing through to members, after the pension system was made sustainable and the refocusing of key investment projects under a challenging economic environment.”
The FNPF has over 270,000 members.