NEWS

Fiji National Provident Fund Contribution To Increase: A-G

The Acting Prime Minister and Attorney-General Aiyaz Sayed-Khaiyum assured members of the public who gathered at the Hot Springs Hotel in Savusavu yesterday, that there will be an increase in the Fiji National Provident Fund (FNPF) contribution.
01 Jul 2022 12:00
Fiji National Provident Fund Contribution To Increase: A-G
The Acting Prime Minister and Attorney-General Aiyaz Sayed-Khaiyum speaking at the Financial Year 2022-2023 National Budget Consultation at the Hot Springs Hotel in Savusavu on June 30, 2022. Photo: Shratika Naidu

The Acting Prime Minister and Attorney-General Aiyaz Sayed-Khaiyum assured members of the public who gathered at the Hot Springs Hotel in Savusavu yesterday, that there will be an increase in the Fiji National Provident Fund (FNPF) contribution.

Speaking at the Financial Year 2022-2023 National Budget Consultation, Mr Sayed-Khaiyum said the contribution would be an increase of 10 per cent once the economy becomes stronger.

He said currently there is a six percent contribution from the employer and six percent from the employee.

 

The decrease was made from ten to five percent during the COVID-19 pandemic.

“We can’t increase it now to 10 per cent where it would be an extra burden on the employers,” Mr Sayed- Khaiyum said.

“We don’t want to hear from them that due to an increase to ten per cent, they are not able to make money so they are laying off employees.”

 

He said they need to engage them also like how they carried out consultations to increase the minimum wage rate.

Mr Sayed-Khaiyum was responding to Savusavu resident Ashok Kumar who asked if there were any plans to increase FNPF contributions from five per cent so that they could have something for retirement.

 

Feedback: shratikan@fijisun.com.fj



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