The Fiji National Provident Fund (FNPF) has revealed concerning statistics regarding retirement savings among its members, as detailed in the recently released FNPF 2025 Annual Report. The report highlights that out of a total membership of 436,860, a staggering 194,627 members—approximately 45%—possess retirement savings of $5,000 or less.
The findings indicate that a further 120,283 members hold balances ranging from $5,000 to $20,000, showcasing a troubling trend where over 72% of all members have less than $20,000 saved for retirement. This situation raises vital concerns about financial security for Fiji’s workforce in their golden years.
The age distribution within the member base reveals significant disparities in savings. Among younger members aged 16 to 24, there are 62,265 individuals; more than 53,000 of them have less than $5,000 in their accounts. In the 25 to 34 age bracket, another large segment with 138,660 members, over 64,000 still fall below the $5,000 threshold. Alarmingly, even among those aged 55 and above, 6,993 members have less than $5,000 saved, with 895 members reporting zero or negative balances.
Conversely, only a handful of members have managed to amass substantial retirement funds. Specifically, just 1,723 members have balances between $250,000 and $500,000, while 465 members hold between $500,000 and $1 million. A mere 151 individuals have savings exceeding $1 million.
The FNPF’s report, which was presented in Parliament last week, calls attention to the pressing need for individuals to actively plan for their future financial stability. While the data may seem grim, it also provides an opportunity for increased awareness and financial education to help members improve their retirement savings. Through strategic planning and support, many can work toward better financial futures and enhanced security in their retirement years.
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