Fiji Labour Party Leader Mahendra Chaudhry alleges that executives at the Fiji National Provident Fund receive an average annual salary matching that of the Prime Minister.

He cited the Fund’s 2023 annual report, which revealed a total payout of $2.9 million to nine executives.

Chaudhry emphasizes that the report lacks transparency in disclosing individual salaries.

He asserts that from 2019 to 2023, executive salaries surged by an average of $148,000 annually, reaching $327,000 in 2023.

Chaudhry criticizes substantial raises during the Covid crisis, contrasting them with the Fund’s struggles.

He highlighted the disparity between executive increments and the eight percent annuity rate for workers, reduced from 15% in 2012.

Chaudhry urges a review of the 2012 restructuring, emphasizing the plight of pensioners after a 50 percent cut.

He notes the unfulfilled promise of reimbursing $180 million withdrawn during the COVID crisis, affecting future pensioners.

The former Prime Minister also raised concerns about the management’s alleged disregard for pensioners’ pleas amid rising living costs.

Meanwhile, FBC News has also sent questions to the FNPF CEO, Viliame Vodonaivalu.