FNPF implements changes to nomination system

February 12, 2024 6:58 am

The Fiji National Provident Fund is taking steps to streamline the nominee process and ensure smoother distribution of member benefits, following a significant challenge in the last financial year.

General Manager Member Services Alipate Waqairawai says they are working to create a more efficient system for nomination processing.

“There are internal talks going on, especially with the other important stakeholder in this regard, which is the Fiji High Court, particularly relating to nominees. There’s currently an internal working group that’s trying to sort out the arrangements in respect of that so that many can directly have their funds transferred to nominees within the fund and become members.”

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Waqairawai emphasizes the importance of updating nominations, regardless of life changes.“So it’s important for each individual member to update their nominations because if something happens to you under the FNPF Act, an FNPF nomination overrides a will. What is in your FNPF nomination? That is the one that will count.”

During the previous year, the FNPF paid over $12 million to the High Court due to 712 deceased members lacking valid nominations.