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Article 17: Understanding the Special Death Benefit

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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Article 16: FNPF Crediting Interest Rate

The end of the FNPF financial year is a time member’s look forward to in anticipation, as it is when the FNPF announces the credit interest rate for the year.

Since 1968, when the Fund declared its first interest of 3% to its members, FNPF has now paid out a total of $4.5 billion to its members - $2.4 billion was paid out in the past 10 years alone, a testament to the FNPF reforms.

On 30 June, FNPF Acting CEO, Viliame Vodonaivalu announced that the FNPF Board had declared a credit interest rate of 5% for the financial year ending 30 June 2021. Within 24 hours, 389,986 members FNPF accounts increased by a total of $297 million.

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Fnpf Crediting Interest 1



Article 15: Lockdown Relief for Members

A specific relief for Fiji National Provident Fund members affected by the lockdown restrictions in the western division, will open on Monday 26 April, 2021.

This relief is for those members who are either working or living in the containment area in the Western Division that was announced by the Prime Minister on Monday 19 April, 2021.

It is one of many that the Fund has rolled out to date, in partnership with the Government, to assist members whose employment was directly impacted by the closure of borders due to the health pandemic.

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COVID 19 Lockdown relief FAQs


Article 14: COVID-19 Home Loan Assistance

The COVID-19 Response Home Loan Assistance is a specific relief for Fiji National Provident Fund members whose employment has been impacted by the pandemic and have an existing home loan with a bank/lender.

This assistance was activated on 1 April, 2021 and already, the Fund has identified 809 members who qualify. Through this home loan relief, these members will be able to access up to 50% of their preserved account, plus 100% of their general account to pay up to 12 months of their home loan.

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COVID 19 Home Loan Assistance


Article 13: Investing in retirement savings

Retirement savings, while mandatory for compulsory members of the Fiji National Provident Fund, is an investment in a member’s (and their family’s) future.

It enables members to set aside a portion of their income for their retirement – after all, we need to be thinking of how we will be getting by in retirement, when our regular source of income from paid employment, ceases.

Many don’t often think of retirement savings as a form of investment, when it actually is.

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Article 12: Addressing zero balance concerns

When it was set up in 1966, the Fiji National Provident Fund’s purpose was to help workers save for retirement.

That purpose hasn’t changed, despite the Fund’s expansion into other services such as housing and education, to name a few.

However, over the years, the Fund has been carrying forward a substantial number of accounts that have zero balance.

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Article 11: Zero balance accounts explained

For years, the Fiji National Provident Fund has been grappling with zero balance accounts, which currently belongs to some 59,751 members.

These statistics are as recent as the 2020 financial year.

Interestingly, some of these accounts have existed since the Fund became operational in 1966 and the numbers have grown every year for the past five decades.

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zero balance


Article 10: A Decade of FNPF growth

Initially set up as a retirement fund, Fiji National Provident Fund’s services has expanded to housing, medical, education, unemployment and funeral assistance for its members, while continuing to discharge its primary objective.

For many of its members, the FNPF is a lifesaver – their only source of savings. For others the FNPF is an institution that signifies security and a comfortable future. In fact, the FNPF is exactly this and more.

The FNPF has grown in the last 10 years to be a major player in Fiji’s financial market. Not only is it a major investor, it is also one of the country’s largest property owners.

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FNPF Article


Article 9: Independent Validation of FNPF

The Fiji National Provident Fund’s role as custodian of members’ funds means that due care and diligence must be practiced at all times to ensure that members’ retirement savings are protected.

The FNPF Act 2011 and Regulations give mandate to the Board on how the affairs of the Fund must be administered. Through various policies, these powers are then delegated to Management to run the dayto-day operations of the Fund. Apart from the various protections in the FNPF Act to safeguard members’ interests, there are other independent parties that are either required by the legislation and/or engaged by the Board to ensure that the operation of the Fund is conducted to the best international standards.

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independent validation


Article 8: Liquidity management and Solvency

As the sole superannuation fund in the country, the Fiji National Provident Fund is the primary savings scheme for thousands of members.

With assets worth $7.9 billion, the Fund’s financial position is often the topic of discussion and even more so now, given the access that has been allowed for COVID-19 withdrawals.

Many questions have been raised in various forums about the viability of the Fund, given the uncertain economic climate due to the global health pandemic.

Following the release of the 2020 Annual Report, there have been concerns about the Fund’s cash position and future.

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Article 7: Stable cash flow sustains members

Since April 2020, the Fiji National Provident Fund in partnership with the Fijian Government, has been providing financial relief to thousands of members whose lives and livelihoods have been impacted by the global pandemic that is COVID-19.

In recent weeks, there have been a lot of media coverage on the Fund’s financials and key statistics – most of which have been extracted from the 2020 Annual Report. Ongoing debates stemming from these reports portray a gloomy outlook for many of our members and pensioners. The truth however, is far removed from claims that the Fund is heading for financial downfall.

The Fund reiterates that your FNPF is in a strong financial position and does NOT face a liquidity crisis.

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Article 6: Understanding your role as a FNPF member

When you start your first employment, one of the many forms that you will be required to fill on your first day or week, is the FNPF employee registration form.

This is a very important document. Your Employer is legally required to ensure that you fill in this form because it allows you to register as a member of the Fiji National Provident Fund.

You will also receive two other equally important documents - the Memorandum of Nomination and Memorandum of Administration forms.

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Article 5: Safeguarding members' funds

A key reason for the FNPF reform in 2011 was to safeguard the future sustainability of the Fund.

It was critical the Fund established solvency standards.

The solvency requirements of the member funds are outlined in Section 32 of the FNPF Act. FNPF needs to ensure that the solvency requirements are satisfied at all times.

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Safeguarding members funds


Article 4: Your FNPF Acount - what you need to know

One of the key components of the FNPF reforms in 2011, was the establishment of sub accounts for all members.

This led to the split in members’ accounts to two sub accounts – the preserved and general accounts.

Section 44 of the FNPF Act establishes two accounts for each FNPF member. This change was implemented on 1st November 2014 – with 70% allocated to the preserved account and 30% for the general account.

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Article 4


Article 3: COVID-19 Relief for Employers

Employers are a key stakeholder of the Fiji National Provident Fund.

The definition of an employer as well as their role, which is mandated by law, is clearly outlined in the FNPF Act.

Their principal role is the timely payment of contributions for members’ retirement savings. This is very important and becomes even more so during the current health pandemic that we are experiencing.

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Relief for Employers


Article 2: Increasing your Super with Additional Contributions

For many Fijians, the direct deduction from their wages for their retirement savings with the Fiji National Provident Fund is their only and main source of savings.

As workers, we contribute (effective 1 April 2020) 5% of our wages and our employer also contributes 5%.

However, the law (FNPF Act) allows us to contribute more than the mandated 5% and a lot of our members are now taking advantage of this opportunity.

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Additional Contribution


Article 1:  FNPF Members COVID-19 Relief

In April this year, the Fiji National Provident Fund in collaboration with the Government rolled out the first phase of its COVID-19 withdrawals to provide some relief for members who had been impacted by the global pandemic.

Such withdrawals are enabled based on the need and situation at the time.

The Fund has implemented three withdrawal schemes to date for COVID-19, as well as the announcement of a new inclusion last week. 

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COVID 19 Relief



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