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Save more for your retirement: Waqairawai

October 9, 2017 5:04 am

More than a quarter-million Fiji National Provident Fund members have less than five thousand dollars in their accounts while fifty-one thousand have less than ten thousand dollars.

FNPF General Manager Member Services, Alipate Waqairawai, says this is a worrying trend.

Waqairawai says some who will retire in another five to ten years have balances of less than ten thousand dollars which is a concern.

“Our member’s ship that has balances of $10,000 and below that are going to retire in the next 5,10 or 15 years is about $304,000 out of the four hundred and six thousand.That’s a very worrying statistics for us so this is why the fund going about to workplaces to create this awareness and asking questions for our members.Are you prepared for retirement?Do you have a retirement plan.”

Mandatory FNPF members can increase their contributions by an additional sum if they want to.