The Fiji National Provident Fund (FNPF) has reaffirmed its dedication to ensuring promising retirement outcomes for its members through the introduction of its Vinaka Campaign. This initiative serves not only as an appreciation gesture but as a profound expression of gratitude directed toward all members whose commitment and hard work shape Fiji’s future.
Chief Executive Viliame Vodonaivalu stated that for nearly 60 years, the FNPF has stood as a reliable steward of Fijian retirement savings, achieving consistent returns, which have averaged six percent over the last decade. Vodonaivalu emphasized the Fund’s assurance that members can trust in its continuous efforts to secure their financial futures, describing it as more than just a financial entity—it is a safety net designed to ensure that when individuals retire, they can enjoy the security and comfort they deserve.
The Fund’s recent performance underscores its ongoing commitment, highlighted by financial growth reports indicating a total asset increase to $10.6 billion, up from $9.5 billion the previous year. This adjustment was bolstered by a net investment return of 8.5%, allowing FNPF to declare an 8% crediting rate, resulting in $572.4 million paid in interest to members. Additionally, total member funds increased by $900 million, reflecting a 12.5% year-on-year growth primarily driven by higher contributions.
These developments, achieved despite challenges such as rising living costs and limited job opportunities, speak to FNPF’s resilience and strategic approach to providing tangible value for its members. Vodonaivalu noted a robust operational focus, including initiatives like extending membership eligibility for infants, which encourages early savings, and a Gift Card program to incentivize retirement contributions.
Further measures are being pursued to help Fijians overseas maintain their retirement contributions seamlessly, signifying an expanding scope of services to support all members. Looking ahead, the Fund’s positive trajectory offers a hopeful outlook for continued growth and stability in members’ retirement savings, clearly demonstrating FNPF’s unwavering commitment to its membership even in fluctuating economic conditions.
This combination of gratitude and reassurance through the Vinaka Campaign, alongside the Fund’s impressive financial achievements, helps ensure a more secure future for all contributors, allowing them to plan their retirement with confidence.
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