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More Pensioners Recorded After Age Limit Lowered

The number of people receiving Social Pension Scheme benefits has increased as at August 5. The number has risen to 20,162 from 18,662. The increase has been attributed to the
20 Aug 2016 08:15
More Pensioners Recorded After Age Limit Lowered

The number of people receiving Social Pension Scheme benefits has increased as at August 5. The number has risen to 20,162 from 18,662.

The increase has been attributed to the lowering of the eligibility age from 68 to 66.

These are senior citizens  who have retired and have contributed to Fiji National Provident Fund during their working lives. They have chosen this scheme rather withdrawing all their funds at 55 – the retirement age. The pension is paid out monthly.

The lowering of the eligibility age was formalised at the signing to renew a memorandum of understanding (MOU) between the Ministry of Women, Children and Poverty Alleviation and the FNPF on Wednesday.

Ministry of Women, Children and Poverty Alleviation Permanent Secretary, Dr Josefa Koroivueta, said the MOU allowed a verification process to ensure social security reached those who genuinely needed it.

“This was to ensure that no senior citizen was missed out from the social security benefits,” he said.

He said the budget for SPS for fiscal year, August 2016 to July 2017, was $14 million with the reduction of age from 68 to 66 years.

Mr Koroivueta said the projected increase in number of older persons was expected to grow from 69,300 in 2010 to 170,500 in 2050.



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