As a Fiji National Provident Fund member you may now be asking, why we need to pay $20 for every withdrawal of our own money as announced by the Board yesterday?
Fund Chief Executive Aisake Taito explained that the cost of processing is already double the current amount.
The board members yesterday announced yesterday that every member must now pay $20 for any withdrawal they wish to make from the fund.
This move was undertaken to ensure that withdrawals from the fund are for retirement purposes only and to ensure that there is sufficient funds left when one retires.
However the Fiji Bank and Finance Sector Union said there is no need to make any policy changes in FNPF as current policies are working well.
General Secretary Pramod Rae stressed there should not be any fees charged on FNPF members funds.
FNPF member explains reason for $20 fee
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