Fiji National Provident Fund has also set up a relief package for employers that will be effective from January 2020 until June 2021.
FNPF CEO Jaoji Koroi, says the fund understands the challenges that employers are facing at this time.
Employers will soon be contacted by the National Provident Fund- as the fund assesses the extent of impact on their business.
FNPF CEO Jaoji Koroi says just like their concern for members, they understand the difficult financial situations many businesses are in.
“I would like to also announce that the Board has approved a relief package for our Employers; that will be effective retrospectively from January 2020 until June 2021.We will be communicating the full details to our Employers in the coming week and hope that it will help them during this difficult period.”
The Fund has members that have signed up for additional contributions, and Koroi says this has been very pleasing to see that members remain concerned about their future.
“These members have grasped the importance of saving with FNPF and have capitalized on the facilities or products available, aswell as the tax exemption to boost their savings.I urge members to utilize the Fund’s digital services to check their new balances tomorrow and to continue tracking their savings.”
FNPF has also been able to retain the Special Death Benefit for the financial year ending 2020.
“The Board has also retained the Special Death Benefit (SDB) forFY2020of $8,500,at a premium of $35, to be deducted from our members’accounts on 1 July 2020.This amount is added to a member’s FNPF balance in the event that they pass away between 1 July 2020 and 30 June 2021 or financial year 2021.”
Members are urged to download the MyFNPF app to track their employee contributions and retirement savings balance.