The Fiji National Provident Fund (FNPF) has written off $327M worth of its assets in order to reflect the true value of member's accounts.
Attorney General and Minister for Commerce Aiyaz Sayed-Khaiyum made the revelation yesterday afternoon saying that since 2005, no action has ever taken place to find the true value of member’s assets.
Sayed-Khaiyum said that the writing off of the assets now enables FNPF to take steps to protect member’s funds.
Fiji National Provident Fund chief executive Aisake Taito said however member’s funds are safe.
Sayed-Khaiyum stressed that the current amount in the individual member’s funds remains the same and the amount in the accounts will not be reduced.
He stressed that based on recommendations since 2005, the true value of assets of FNPF had to be ascertained to ensure that the actual and true value of assets of FNPF is in the books.
Dialogue Fiji expresses its grave concern and disbelief over the National Referendum Bill 2025, which contains some of the most far-reaching and unde...
16 hours ago
The 2025 Provisional Literacy and Numeracy Assessment results has been released today, which shows improved literacy rates for Year 5 and Year 7 ...
2 hours ago
A powerful magnitude 7.6 earthquake shook Japan's northeast region prompting tsunami warnings and orders for residents to evacuate.
The Japan ...
3 hours ago
Member of Parliament and leader of the National Federation Party, Professor Biman Prasad says rumours circulating on social media claiming he has ...
15 hours ago
Auta Moceisuva, who previously served as the Deputy Commissioner of Corrections, has been appointed Acting Commissioner of Corrections. ...
15 hours ago
Are we doing enough?Sonia Shanaaz, a mother who is raising her 10 year old daughter living with a disability, will appear on fijivillage Straight ...
16 hours ago
The Fiji Airways Men’s National 7s side are working on their fitness as they prepare for the start of the 2025/2026 World 7s Series this ...
22 hours ago
There is a constant struggle that we seem to have in Fiji with upholding and respecting the rule of law, and in my view, I think it starts at the ...
4 days ago
Tribunal proceedings for suspended Corrections Commissioner Dr Nakarawa are underway, focusing on allegations of misbehaviour during his tenure as ...
4 days ago
