191,204 FNPF Members Savings Below $5,000
A whopping 191, 204 Fiji National Provident Fund (FNPF) members have below $5000 saved for retirement.
Of this, 67, 385 members were between 25 to 35 years old and 42, 391 members were between 35 to 44 years old.
This was highlighted in the 2022 financial year FNPF annual report.
Don’t withdraw, former Governor of the Reserve Bank Savenaca Narube has advised.
He said FNPF was established as a compulsory savings scheme to help members financially when they retire.
“The FNPF pays around six per cent annual return on members’ funds and that is much higher than the deposit rates and other investment returns,” he said.
He said the savings scheme for retirement has served its purpose successfully since its establishment.
Story By: Josefa Babitu
Feedback: josefa.babitu@fijisun.com.fj
