FNPF has new Board Chairman

The Permanent Secretary for Labour, Industrial Relations and Employment, Mr Taito Waqa, is the new Chairman of the Fiji National Provident Fund Board. The appointment was formalized last week by the Minister of Finance, Mr Mahendra Chaudhry.

Mr Waqa replaces the Permanent Secretary of Finance, Mr Peceli Vocea, who has resigned from the FNPF Board due to work commitments.

In appointing Mr Waqa, Mr Chaudhry reminded him of the important role the Board played in the management of members’ savings.

“I have in my various meeting with the Board, put the expectations the interim government has of members and senior management of the FNPF which is by far the largest financial institution in the country,” Mr Chaudhry said.

“It is where billions of dollars of superannuation money of the workers of Fiji is invested and its safekeeping entrusted to FNPF Board members.

“As trustees, FNPF Board members are not only expected but required to exercise the highest degree of fiduciary care in the management and investment of the funds placed in their care.”

Mr Waqa, is an engineer by profession, and has held various senior positions with the Ministry of Labor and Industrial Relations including Director OHS & Workers Compensation Services, Acting Deputy Secretary and Acting Chief executive Officer.

He was appointed chief executive officer of the ministry in 2005 before he was appointed Permanent Secretary in March, 2007 following the deestablishment of the CEO positions in January 2007.

He holds a Bachelor of Engineering (Mechanical) from the University of Canterbury, Christchurch, New Zealand, a Master in Business Administration from the University of Sydney and a Master of Science from the University of London.