It is unfortunate that the FNPF contributions has not been reinstated to its original level - FTUC

It is unfortunate that the FNPF contributions has not been reinstated to its original level - FTUC

By Naveel Krishant
Sunday 17/07/2022
National Secretary, Felix Anthony

The Fiji Trades Union Congress says it is unfortunate that the Fiji National Provident Fund contributions has not been reinstated to its original level.

While responding to the 2022/2023 budget, National Secretary, Felix Anthony says the deductions should not have been reduced in the first place and workers have lost out.

Anthony further says there is no clear indication when the deductions will be fully restored.

He adds that the giveways were expected.

Meanwhile, the government has increased the FNPF employer and employee contributions from 6% to 7% from 1st January 2023 through 31st December 2023.

Minister for Economy, Aiyaz Sayed-Khaiyum says for more than a year now, FNPF members’ accounts have received contributions at a lower rate.

This 1 percent reversal for both employers and employees should credit around $40 million to members’ accounts.

The government will eventually revert the contribution rates to a total of 18 percent (10 percent for employers and 8 percent for employees) in the coming years.

Sayed-Khaiyum says any employer who chooses to contribute in excess of the 7 percent mandatory contribution up to 10 percent, will be allowed to deduct 300 percent of the additional contribution from their taxes, and that additional income for their employees will be exempt from income tax.

FEATURE NEWS
Anyone who wants to come in has to come without any political affiliation – GCC Chair
Chairman of the Great Council of Chiefs, Ratu Viliame Seruvakula has made it clear that if any chief wants to be a GCC member, they will have to come ...
1 hour ago
LATEST NEWS
The term ‘breaking the glass ceiling’ is a real achievement for women - Uluinaceva
Leadership Fiji Alumni and Maxumise Fiji Managing Director, Salote Uluinaceva says the term ‘breaking the glass ceiling’ is a real achievement ...
1 hour ago

Fuel prices to go up from tomorrow
People will have to dig deeper into their pockets as fuel prices are going up from tomorrow. Unleaded fuel is going up by 11 cents and will now ...
6 hours ago

Cabinet approves relocation of Nabavatu Village which will cost $5.9 million
Cabinet has approved the relocation of Nabavatu village to land in Nadoiviri belonging to the Mataqali Uluitoga and Mataqali Nalutu. Nabavatu ...
6 hours ago

Villagers in Ba change way of living due to climate change – Uni Fiji Lecturer
Coastal villagers in Ba are implementing changes in their agriculture, farming, fishing and way of living due to the impacts of climate change. ...
6 hours ago

Naupoto attacks Tikoduadua on Restore Blue and claims of interference
The attack on the Home Affairs Minister, Pio Tikoduadua has continued by the FijiFirst Party in relation to crime and drugs where FijiFirst MP, ...
6 hours ago

EXPRESSION OF INTEREST


fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
Kishore Kumar Trial
Kishore Kumar is charged with allegedly making false claims on his Facebook page, Kishore Kumar Publications that there was a porn video of ...
9 days ago

Concerns raised regarding the state of CWM Hospital
General and Chief Pediatric Surgeon at the CWM Hospital, Dr Josese Turagava says due to the increase in the number of people who are moving to the ...
10 days ago

HSBC Perth 7s 2024
The Fiji Airways Men’s National 7s side secured a 4th place finish at the HSBC Perth 7s while the Fijiana 7s finished 8th in the Women’s ...
26 days ago

TOP