The Fiji National Provident Fund said it will continue to review its withdrawal policies to align it to its core function as a pension fund.

This was revealed in a summary of the FNPF's 2009 Annual report for the financial year ending 20th June 2009.

The Fund said it introduced a $20 processing fee to all members for pre-retirement withdrawals which became effective in April 2009, the fee ensures that those who access these benefits - pay for it, as well as an attempt to discourage partial withdrawals so that there would be more money for members retirement the main purpose of the Fund.

The FNPF states that members affected by the flood in early 2009 withdrew $41.26million of their savings to rehabilitate their lives.

The FNPF said while they have assisted members during such natural calamities, it is imperative that members change their expectations of FNPF and its role.

The FNPF states that it cannot continue to fund all aspects of welfare and that is why it will continue to review its withdrawal policies to align it to its core function as a pension fund.

Meanwhile, FNPF recorded a net loss of $181.15 million in 2009.

In a summary of the FNPF's 2009 Annual report for the financial year ending 20th June 2009, it was stated the loss was a direct result of the impairment to the Natadola and Momi project in which the Fund had to write-down $320 million, $302 for Natadola and $18million for Momi as announced a month ago.