All indications are now pointing towards a possible reduction in the pension rate for FNPF members upon retirement.
While opening the FNPF symposium to discuss the Fund's reform proposals today, Prime Minister, Commodore Voreqe Bainimarama said tough decisions need to be made to ensure that FNPF remains sustainable and outlives all of us.
Although Commodore Bainimarama did not reveal the proposed reforms, he highlighted the current situation on the pension rate.
Commodore Bainimarama said for the first time ever, a comprehensive review of FNPF has been undertaken by international experts and it is time to consider the interest of all based on the changing times.
FNPF is the country's largest financial institution and holds about 40 percent of the assets of the financial sector.
The symposium will be held behind closed doors today and tomorrow as key stakeholders discuss the proposed reforms before they are made public.
Story by: Vijay Narayan
Feature
Possible reduction in FNPF pension rates
