FNPF makes First Pension Payout
April 16, 2012 7:00 pm
The Fiji National Provident Fund yesterday paid out about $100 million dollars under its new pension scheme.
The bulk of the payment was deposited into pensioners’ bank.
CEO Aisake Taito says they paid out in lump sum and pension options for those who had completed their validation and had filed their pension forms by 29th February.
He says some of the pensioners will experience delays in receiving their payments because this is the first time FNPF is undertaking such an exercise.
The FNPF will ensure that payments due to those that complied with the initial deadline are processed and paid out within the next few days.
From next month all pension payments will be made either on the 14th day or the last working day of every month.