Fijians in Cook Islands can transfer saving to FNPF
May 10, 2019 12:07 pm
FNPF Chief Executive Jaoji Koroi
Over 1000 Fijian workers in the Cook Islands can now transfer their superannuation savings to their Fiji National Provident Fund accounts.
Many Fijians living in the Cooks are employed in its tourism industry but under the country’s legislation, members aren’t allowed to access their funds until they’re 60.
FNPF Chief Executive Jaoji Koroi says the new agreement will ensure Fijian nationals working abroad are protected.
“So with this MOU with the Cook Islands, upon the completion of their contract they can apply to transfer their funds from the Cook Islands to Fiji and to their FNPF account which means their funds will be administered under the FNPF so that means they can withdraw for pre-retirement as well as post-retirement needs. ’’
The Chief Executive says it took close to two years to formalize the MOU.