More relief measures for FNPF members
August 13, 2021 3:55 pm
Two more COVID-19 relief measures for Fiji National Provident Fund members will open on Monday.
These include Phase Three, for members who are working on reduced hours or wage rate; and low balance account withdrawal for members between 50-54 years whose total balance is $10,000 or less and have not worked for the past 12 months or more.
Chief Executive, Viliame Vodonaivalu says the Fund continues to explore ways to assist members, within the scope of the FNPF Act 2011.
[Chief Executive, Viliame Vodonaivalu]
Vodonaivalu says the targeted relief that the Fund has provided since the pandemic started last year, is an extension of existing partial or early withdrawals allowed by law.
Under Phase Three members who continue to receive reduced wages will be able to access funds from their General Account to help them during the relief period.
Members who qualify for phase three will only access their General Account.
Members must have a minimum General Account balance of $563 in order to access between $528 and $1,848 depending on their reduced hours or wage rate arrangement.
Low balance withdrawal is for members with less than $10,000 and have been unemployed for 12 months from the date he or she submits an application and between the ages of 50 to 54 years.
It is open to compulsory and voluntary members.