FNPF has paid out 45 million dollars in members funds to members who have been terminated, left unemployed or working reduced hours during this COVID-19 pandemic.
An additional 7 million dollars has been by government to prop up the accounts of members who do not have sufficient funds.
A total of 52.1 million has been paid out to 82 thousand 850 applications so far under the Fund’s COVID-19 Withdrawal Assistance.
Fiji National Provident Fund’s phase 2 of assistance is for members who are still unemployed.
In the first phase, 90,487 applications were received and so far funds have been paid for 82,850 applications.
The lump sum payment of $220 is expected to be completed by this Friday, 5th of June.
In 2014, FNPF had $2.5 billion in the preserved account, six years on, the amount has doubled to 5.91 billion dollars.
To discourage collusion between employers and members, FNPF is requesting employers to assist members re-apply.