Major reform proposals for FNPF to be revealed

Major proposals for reform of the Fiji National Provident Fund and Fiji's retirement savings scheme will be revealed in the next few days.

FNPF said it is set to finalise the new pension structure as well as announce reforms to the retirement savings arrangements and the operations of FNPF to ensure sustainability, transparency and fairness to all FNPF members.

A symposium to introduce and explain the changes to the pension scheme and design and reform for the future operation of the retirement savings policy and industry will be conducted next Wednesday and Thursday in Suva.

Prime Minister Commodore Voreqe Bainimarama will make the keynote address to launch these important reforms.

Speakers will include consultants from Mercer and Promontory who have assisted in redesigning the pension benefits, policy and legal drafting.

Key stakeholders including government, unions, employers, pensioners, regulators, academics, financial commentators and NGO's have been invited to participate in this important forum.

Public consultations will then be held around the country.


Story by: Vijay Narayan