Great news for the over 433,000 members of the Fiji National Provident Fund (FNPF), as the organization has announced a record interest rate of 8.75% for the financial year ending June 30, 2025. This milestone sees a total credit payout of $698.75 million, which will be credited to members’ accounts next Monday.
This significant increase from last year’s 8% interest rate is the highest credited rate in more than three decades and is attributed to FNPF’s strong investment performance and commitment to ensuring a secure financial future for its members. The total investment income has exceeded $1 billion, reflecting effective management strategies that emphasize diversified investments.
FNPF’s Chief Executive Officer, Viliame Vodonaivalu, highlighted that more than half of the Fund’s earnings came from equities, with substantial contributions from government bonds, commercial debts, and property investments. Furthermore, the Fund has expanded its portfolio to include global investments, particularly in the S&P 500 Index, enhancing its ability to deliver robust returns.
Vodonaivalu expressed pride in the Fund’s performance, crediting a disciplined approach to portfolio management and commitment to enhancing the financial integrity of the Fund. The emphasis on member-centric initiatives has also been a priority, with changes made to housing withdrawals, adjustments to eligibility for younger members, and other measures designed to ensure members can fully benefit from their savings.
Additionally, significant local investments have characterized this financial year, including the acquisition of prime land and funding for development projects like the Naisoso Radisson Blu Mirage and Farleigh Limited.
Members are encouraged to check their updated balances from July 1 via the MyFNPF App, further fostering engagement and awareness about their retirement savings. This latest announcement from FNPF not only highlights the organization’s successful financial journey but also instills hope for continued growth and financial security for its members in the future.
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