Fijians can volunteer to re-join FNPF as a member on two occasions after a full withdrawal following their retirement at 55.<\/p>\n
Confirming the new policy passed by Government earlier this month, FNPF chief executive officer Viliame Vodonaivalu said the amendment to the FNPF Act 2014 meant the age limit for voluntary membership has been increased from 54 to 59.<\/p>\n
\u201cIt\u2019s an inclusive move that supports our vision of financial security for all Fijians,\u201d said Mr Vodonaivalu.<\/p>\n
\u201cRetirement savings is one of the main sources of income for Fijians when they retire from formal employment.<\/p>\n
\u201cIt is also available for Fijians who have their own means of earning income and who would qualify for the FNPF Voluntary Membership Scheme.\u201d<\/p>\n
Meanwhile, Deputy Prime Minister Professor Biman Prasad reiterated the entitlement age continues to be 55 years contrary to The Fiji Times report.<\/p>\n
The report mistakenly stated yesterday that a legal amendment to the FNPF Regulations had increased the age at which FNPF members could access their retirement funds.<\/p>\n
\u201cEffective from September 1, 2025, members who have fully withdrawn under an entitlement event will be able to join the Fund on two further occasions as re-entrant members,\u201d a Fund statement read.<\/p>\n
\u201cIn addition, the age limit for voluntary membership has been increased from 54 to 59 years, enabling more Fijians to continue saving for their retirement.\u201d<\/p>\n
FNPF chief executive officer Viliame Vodonaivalu said the two re-entrant policy allowed members to replenish their savings.<\/p>\n
\u201cThis reform recognises that life circumstances can change, and we want to ensure that our members have the opportunity to rebuild their retirement savings, even after a full withdrawal,\u201d Mr Vodonaivalu said.<\/p>\n
\u201cBy allowing two more re-entries, members have an opportunity to replenish their savings, even after they have fully withdrawn their funds from FNPF.<\/p>\n
\u201cWe encourage these members to really consider building up their savings again for financial security in retirement.\u201d<\/p>\n
He said the revised age limit for voluntary membership would broaden access to the Fund.<\/p>\n
\u201cIncreasing the voluntary membership age limit ensures that those who start saving later on in life, are not left behind.<\/p>\n
\u201cIt\u2019s an inclusive move that supports our vision of financial security for all Fijians.<\/p>\n
\u201cRetirement savings is one of the main sources of income for Fijians when they retire from formal employment.<\/p>\n
\u201cIt is also available for Fijians who have their own means of earning income and who would qualify for the FNPF Voluntary Membership Scheme.\u201d<\/p>\n
He added the change in the age limit simply allowed Fijians up to 59 years to sign up as voluntary members and to save for their retirement.<\/p>\n
\u201cCurrently, only those Fijians up to 54 years can join as voluntary members and this change will enable others to build their savings.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Fijians can volunteer to re-join FNPF as a member on two occasions after a full withdrawal following their…\n","protected":false},"author":2,"featured_media":92755,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,63,99,186,184,185],"class_list":{"0":"post-92754","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-finance","12":"tag-personal-finance","13":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/92754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=92754"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/92754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/92755"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=92754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=92754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=92754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}