FNPF recorded a net surplus of $115 million, even after paying out $127 million to pensioners who opted for a lump sum withdrawal.
This was announced by the Chief Executive Officer Aisake Taito.
Taito said this has been achieved thorough strong performance from the Fund’s investment portfolio.
Taito said the total members balance grew by $200 million to $3.2 billion when compared to $3 billion last year.
He added that the interest paid to the members was 5% resulting in the distribution of $139 million to FNPF members’ account.
Meanwhile the Fund’s net assets increased to $3.9 billion from $3.8 billion last year as a result of the net surplus.
Over 4,000 new members joined the Fund this year.
Taito highlighted that the withdrawal increase from $309.5 million to $318.2 million was due to the increase in housing assistance and flood assistance withdrawals.
Story by: Tokasa Rainima
