Prime Minister Voreqe Bainimarama has assured Fijians that due to government’s reforms and Fiji National Provident Fund’s prudent management, their savings are safe and the FNPF sits in a strong financial position.
Bainimarama says one question he has been asked before is whether the FNPF will run out of money.
The Prime Minister says FNPF’s total assets are more than $8 billion which includes more than $600 million worth of cash and deposits.
He says the FNPF Act allows the Board under certain conditions to assist its members in times of need and it has done so during serious cyclones and other disasters.
Bainimarama says as of 4th April 2022, 141,377 FNPF members have been assisted through the COVID-19 relief scheme where the members received a total of $368.3 million.
He says out of this amount, $185.6 million was paid by the government and $182.7 million came from the general accounts of the individual FNPF members. The Prime Minister says it is important to remember that members receiving relief could only access funds from their general accounts and their preserved accounts were not touched.
He says 45,000 members whose general accounts ran out of funds received a full top up from the government.
