A total of $25 million has been paid to 36,499 Fiji National Provident Fund members that have applied for the FNPF COVID-19 withdrawal scheme.
Chief Executive Officer Jaoji Koroi says $3.0 million has been paid by Government with $22 million paid by the Fund.
65,800 applications have been received from members, which is equivalent to 93% of the total withdrawals made in the last financial year.
FNPF has paid out some 56% of applications received with a target to clear another 25,000 this week.
This is inclusive of approximately 8,600 applications that were received before 16 April.
FNPF continues to seek members’ patience and understanding of the delays and also reassure members that they will be paid as soon as practical.
CEO Jaoji Koroi says it is definitely not because of cash flow but the Fund wants to ensure that proper procedures are maintained on your withdrawals.
Whilst there is progressive improvement to its processing, the Fund is also faced with the task of rectifying 3,700 applications that are on queried status.
A dedicated team will look into all queried applications as it is one of the main reasons for delay.
Applications are queried due to any of the following reasons: form not fully completed by the member, employer’s stamp or signature or both is missing, required documents not submitted by the member or employer or both and wrong form filled by the member.