FNPF declares 6.5% interest to members

The FNPF Board has declared an interest rate of 6.50% to be credited to member accounts on 30 June 2006, up from 6.25% in 2005.

In addition the Board has increased the Special Death Benefit from $6,000 to $7,000 with an increase in the premium from $20 to $25 for the next financial year commencing 01 July 2006.

FNPF Chairman, Mr Anare Jale said that “the increase in interest is attributed to the improved returns earned from investments that have been prudently undertaken by the Fund.”

He added that the future looks positive for FNPF and its members as it continues to diversify its investment portfolio.

“This is a positive result for the Fund which reflects the commitment by management and staff in ensuring the improved returns for members”, Mr Jale said.

Financial figures released as at May 2006 for the Fund, showed increases in membership registration by 32.60%, contribution collected by 7.94%, investment income by 21.37% and members fund by 6.80%, in comparison to figures as at May 2005.

The Fund’s financial performance for the current financial year (July 01 2005 – June 30 2006) will be fully reported once its Annual Report 2006 is released in the latter part of this year.

For further clarification please contact Risiate Biudole on 9998 764.