29pc of FNPF members have balances above $10k
5 December, 2018, 7:00 am
IN the past 12 months, Fiji National Provident Fund (FNPF) provided housing related assistance to 4890 members, approved education applications for 18,710 members and their families and completed medical assistance for 584 members.
These figures were released by FNPF’s chief executive officer Jaoji Koroi during the fund’s annual member forum in Suva office yesterday.
Mr Koroi said FNPF also provided immediate relief to 14,073 members affected by Tropical Cyclone Josie and Keni and also approved unemployment assistance for 8579 members.
He added the fund continues to manage the ongoing challenge of low member balances.
Mr Koroi said as of June 30 this year a total of 29 per cent of its members had balances above $10,000.
Of those with balances below $10k, about 57,000 are over 50 years old and eligible to exercise their retirement option within the next five years.