Over $340m was paid out by the Fiji National Provident Fund to its members in 2019.

Over $340m was paid out by the Fiji National Provident Fund to its members in 2019.

This was highlighted in the FNPF Annual Report of 2019 revealing that the largest sum of withdrawal was for retirements which stood at $167.1m.

In 2018, retirement withdrawal was $144m.

Withdrawal for housing also increased to $57.5m compared to $44.2m in 2018.

The report also showed that many Fijians are withdrawing upon migration.

The figure stood at $36.6m compared to $33.3m the year before.

Meanwhile, there has been an improvement in small account withdrawal as people are tending to save more than withdrawing.

The FNPF is again stressing the importance of saving for retirement.