Members of the Fiji National Provident Fund (FNPF) were delighted to discover an increase in their account balances yesterday, following a sizeable interest payout. The news source reached out to some members for their reactions to the 8% interest credited to their accounts over the weekend.
Members interviewed expressed their enthusiasm and highlighted their faith in FNPF’s future ability to maintain reliable returns. “The interest payout was a pleasant surprise that reassured me that the investments made by FNPF are yielding dividends, and we, the members, will reap the benefits in the future as long as these investments are handled transparently,” one worker said.
A member shared a similar perspective, saying, “Despite wanting to transfer the payout to my bank account, I understand that saving for retirement is about long term plans. From what I’ve observed over the years, I feel secure and I’m confident about a promising future.”
Another member perceived the payout as a catalyser signaling more trust and confidence in FNPF, viewing it as an incentive for employees to increase their superannuation deductions and for non-members to enlist as volunteer members. Some members considered the payout as a kind of ‘recovery payment’ for withdrawals made during the COVID-19 pandemic.
New entrants to the job market, Adrian, Sarah, and Jack, although receiving smaller portions, were appreciative, viewing this as an affirmation of their future financial security.
The total credited to members’ accounts for the financial year ending June 30, 2024, stands at $561.5 million, benefiting 417,722 members. FNPF CEO Viliame Vodonaivalu reaffirmed the institution’s dedication to amplifying its members’ financial well-being. He stated that retirement savings were the primary source of savings for their members and they are aiming to provide the best returns for future fund growth.