Many retirees who opted for a lumpsum payout from FNPF are crying foul over FNPF’s delaying tactics and excuses of soughts not to release their money.
Some members, whom our sources spoke to, complain that their lump-sum payout requests lodged many months ago are still pending with the FNPF now trying to convince them to take partial withdrawal only.
The regime’s decision to drop the retiring age from 65 to 55 is putting lots of stress on FNPF’s ability to payout lumpsum withdrawals to its retiring members.
Monthly FNPF contribution receipts is below what they are required to pay-out to their members while many of FNPF’s investment fail to deliver a reasonable rate of return to finance their young retiring 55 years old members.
Fiji’s private sector are also complaining about FNPF’s delayed payment for products and services rendered to them, a far-cry from the FNPF’s prompt payer reputation of yesteryears.
fnpfreporter
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