Restoration of FNPF pension allowances for financial relief

January 15, 2024 6:33 am

The decision to restore allowances for Fiji National Provident Fund pensioners, which were reduced in 2011, is a significant measure designed to alleviate the financial challenges faced by Fijians.

Prime Minister Sitiveni Rabuka, speaking on Radio Fiji One’s Na Noda Paraiminisita programme, says the decision approved by the coalition government provides relief to individuals who experienced pension reductions a decade ago.

Rabuka has explained that the original agreement between workers and employers was to contribute to the Fiji National Provident Fund for future pension benefits.

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“People were going against it in 2011 because an agreement was made between people and the FNPF for the deduction to take place. When we retire, the FNPF pensionable age is 55, and we will get a certain percent of that money as our pay until we die.” However, the 2011 law changes brought about a reduction in pension rates, triggering legal and public opposition.”

He has acknowledged the judiciary’s stance against the 2011 changes, emphasizing that the law was initially established through cabinet approval under the Fiji National Provident Fund Act.

The initiative seeks to support pensioners in their daily lives, especially those aged 70 and above, acknowledging their contribution to society.