- April 9, 2017
- Posted by: fnpf_editor2
- Categories: Media Articles, News & Media
The FNPF is encouraging all employers to take advantage of the current penalty waiver and settle any outstanding contributions.
The surcharge waiver ends on 30 June 2017.
Chief Operating Officer, Mr Jaoji Koroi, has reminded employers to take advantage of this opportunity and ensure that they meet their obligation to their employees.
“The Fund has on more than one occasion activated this penalty waiver for the convenience of our employers but they must understand that it is affecting members accounts”, Mr Koroi added.
“Employers must remember their obligation and responsibility to their employees and in turn we also have our role to play as trustees of members funds to recover what is rightfully owed to our members”, he continued.
As a means to simplify the contribution payment and submission process, the Fund has also been working with employers to register and familiarize themselves with the Employers Online portal. Through this portal, employers are then able to submit Contribution Schedule forms and once successfully uploaded are then able to generate their own invoices for payment.
The Fund urges employers to use the portal facility as it will assist both parties in the timely distribution of FNPF contributions into members’ accounts. Employers that are interested in undergoing training for online portal are to contact the Fund directly.
From 1 July 2017, the penalty of $100 per employee per month will come into force for all employers who pay late contributions. The FNPF has no intention of extending the waiver therefore all non-complying employers are requested to visit their nearest FNPF branch or agency to make the necessary arrangements.
To date, the Fund has approximately 917 defaulting employers, amounting to the value of $4.7 million in total contributions owed.