Every year on 1st July, an amount of Special Death Benefit (SDB) premium declared by the Fiji National Provident Fund Board is deducted from all active FNPF member accounts that meet the eligibility criteria.
This is the annual premium for the special death benefit (SDB) cover – which is a benefit paid to the nominated dependents of the member if he or she passes away before they fully withdraw their savings within the financial year in which the premium was deducted.
In the Fund’s case, the SDB premium for financial year 2022 (1/7/2021 – 30/6/22) is $35. The premium expires at the end of the financial year, after which point, the annual premium for the next financial year would need to be deducted from the member’s General Account to ensure the member is covered for the new financial year.
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