Your trusted source for Pacific Islands news, analysis, opinions, events and business intelligence.

FNPF zeroes in on zero balances

Member service at FNPF HQ, Suva at the height of COVID-19
Member service at FNPF HQ, Suva at the height of COVID-19

By Dionisia Tabureguci

Over 50,000 Fiji National Provident Fund (FNPF) member accounts will scrutinised and reclassified as work gets under way to address the large number of 'zero balances' amongst members. 

'Zero balance' accounts have been a thorn in the Fund's side, having accumulated over the years, with the latest numbers putting it at a staggering 58, 712 of a total membership of 446,658, or roughly 13%. 

"As we have highlighted in the case study in the 2021 annual report, 44% or 25,550 members are over 55 years and 97% of these accounts have been dormant for over 10 years (dormant means no transactions)," CEO Viliame Vodonaivalu said . . .

Please Subscribe to view full content...

Register New Account

Choose your membership level

Choose Your Payment Method

Share article:

Share on facebook
Share on twitter
Share on linkedin

Related Stories

IB December 2021 cover
2021

Whispers

MSG boss shuffling After months of uncertainties, the sub-regional bloc of the Melanesian Spearhead Group