FNPF notes increase in migration withdrawals

February 11, 2024 7:58 am

Many Fijians are utilizing their Fiji National Provident Fund savings to support their relocation and new beginnings abroad.

According to FNPF Chief Executive, Viliame Vodonaivalu they have noted an increase in migration withdrawal.

He highlighted this during FNPF Member Forum held in Nadi.

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Vodonaivalu says full withdrawals for FNPF in 2023 surpassed $320 million, encompassing retirement, housing, and early withdrawal options.

“It is interesting to note that migration withdrawal increased to $83.8 million. It’s an indication of movement our people abroad for better prospect.”

Vodonaivalu says they also noted an increase in medical related withdrawal.

“There is also an increased withdrawal medical incapacitation so $7.5m while there was notable reduction for other withdrawal grounds. There was an increase in withdrawal for disability.”

The Fund’s total membership at the end of last year was 405,865, which reflected an increase of nearly two percent from 398,593 in 2022.

This includes a total 23,105 registered voluntary members.