Brief on FNPF
The Fiji National Provident Fund is Fiji’s largest financial institution. We are the only superannuation fund that is mandated by law to collect compulsory contributions from employees and employers, towards the retirement savings of all workers in Fiji.
Apart from retirement savings, the FNPF also provides its members other financial services such as housing, medical and education assistance. We have branches and agencies in Suva, Lautoka, Labasa, Nadi, Ba, Savusavu and Valelevu.
We were founded in 1966 under the FNPF Act. Over the years the Act has been amended to address the changing needs of members inclusive of the introduction of the Pension Scheme in 1975; allowances for members’ to withdraw their contributions for housing assistance in 1976 and again in 1982; the introduction of the Village Housing Scheme in 1985; and the review of pension in 1999. The FNPF Decree 2011 was promulgated in November, 2011 announcing major structural changes to the Fund, including the adoption of the new pension business based on actuarial fair and sustainable rates.
As at 30 June 2012, the FNPF’s total assets were valued at $3.9 billion and total membership stood at 368,186.
FNPF is a major investor in Fiji and one of the country’s largest property owners. We own 58 percent of Amalgamated Telecom Holdings, 75 per cent of Home Finance Limited, and fully own the FNPF Investment Limited (FIL) that owns the Natadola Bay Resorts Limited, Holiday Inn Suva, Momi Development Project and 25% shares of the Grand Pacific Hotel.