FNPF records net profit of $568 million in 2019 financial year

The Fiji National Provident Fund has made a net profit of $568 million in the 2019 financial year compared to $538.7 million for 2018.

CEO Jaoji Koroi says th interest paid to members has tripled over the last 10 years with $353 million paid in the last financial year.

He says the total assets owned by FNPF as at 30th June this year is worth $7.4 billion.

The CEO revealed that contributions collected in the last financial year amount to $652 million with the total members funds now amounting to $6.1 billion.

FNPF now has an investment income of $635 million.

Koroi adds the figures over the last 10 years show the reforms that have taken place have been very successful for the members.

The CEO also laid to rest rumours that people of retirement age could not withdraw their funds adding the amount paid out proves this to be untrue.

FNPF currently has 441,663 members.