SUNBIZ

Investment Scheme For FRCA Employees

Fiji Revenue and Customs Authority employees can invest in the Unit Trust of Fiji through a direct salary deduction arrangement. This follows after a memorandum of agreement was signed yesterday
26 Sep 2015 11:24
Investment Scheme For FRCA Employees
Unit Trust of Fiji chairperson, Shaenaz Voss (left) and Fiji Revenue and Customs Authority chief executive, Jitoko Tikolevu after signing the memorandum of agreement yesterday. Photo: Stella Moresio

Fiji Revenue and Customs Authority employees can invest in the Unit Trust of Fiji through a direct salary deduction arrangement.

This follows after a memorandum of agreement was signed yesterday between FRCA with the Unit Trust of Fiji to access the Employee Investment Scheme.

Under this agreement, both institutions will be able to empower FRCA’s employees to save and invest to their future.

Unit Trust of Fiji chairperson, Shaenaz Voss, said the agreement was a milestone achievement.

“This meant that the Unit Trust as new product will allow them to partner with employers in reaching out or taping into the work force,” she said.

“This will give direct deductions to people who are interested in investments or savings in particular with the Unit Trust of Fiji.”

Under this agreement, FRCA employees will be investing without any associated transaction fees and charges with the ultimate objective for personal wealth creation.

The Employee Investment Scheme will essentially provide a platform to FRCA employees to regularly invest their funds through a salary direct deduction arrangement.

FRCA chief executive Jitoko Tikolevu said the agreement is another opportunity for FRCA to partner with the Unit Trust of Fiji.

“It is a privilege to come and experience how we can explore the process of saving in the Unit Trust of Fiji,” he said.

“We know for certain that it is tax free and this is another way to encourage saving.”

 

About UTOF

Unit Trust of Fiji has an investment portfolio of in excess $117 million with a strong investor base of 15,000.

It is one of the major investment institutions of capital markets in Fiji with a market share of 60 per cent.

Feedback: stella.moresio@fijisun.com.fj

 

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