FNPF to reinstate 18% contribution

December 8, 2023 4:14 pm

The Fiji National Provident Fund’s contribution by employers and employees will be reinstated to 18 percent from January 1st.

This was reduced to six to seven percent as part of temporary reliefs provided to employers and employees during the COVID-19 pandemic.

This increase in rates to 18 percent was passed in Parliament through the Fiji National Provident Fund Amendment Bill.

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Chief Executive, Viliame Vodonaivalu says it’s a call of government to reinstate the contribution rates.

“To the members it means well, so that’s an additional $54 million members fund addition to the normal.”

Vodonaivalu says this increase will mean more funds for the members and the institution will also have more investable funds.