Fiji Time: 9:11 PM on Monday 24 November

Fiji Times Logo

/ Front page / News

Taito: Fund on right track

Siteri Sauvakacolo
Tuesday, May 06, 2014

THE Fiji National Provident Fund says it approves loans to Fiji Airways because it gets a good return.

FNPF CEO Aisake Taito made this remark in a presentation to Catholic teachers at Bemana, Navosa, last week.

"FNPF gets an 8.75 per cent return as opposed to term deposit returns of one to 2 per cent from banks.

"Fiji Airways gives back $12million in returns to FNPF in a year," he said.

"It also boosts hotel occupancy rates and a greater capacity for increased tourist numbers.

The FNPF team visited the teachers to talk about the fund's services and member benefits.

Mr Taito said the fund was on the right track.

"There is a net surplus of $293million and a positive pension result of $7m — the first after 25 years.

"We also have a write- back on investments of about $23m and an increase in fund membership of 3181,303.

"There is also an increased contribution collection of $343.1m and it strengthens governance reduced risk rating by the Reserve Bank of Fiji."

Mr Taito reassured members that the FNPF was in a strong and sound financial position and that members' money was safe and secure.





Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Today's Most Read Stories

  1. Deal on NZ jobs
  2. President Xi leaves impression on leaders
  3. Job opportunities
  4. Stand by big brothers
  5. Out of wedlock births up
  6. Jail terms for former Post Fiji executives
  7. Dragons win 7s title
  8. Healing sanctuary
  9. Growth forecast
  10. Hygienic home

Top Stories this Week

  1. Stabbed to death Tuesday (18 Nov)
  2. Kill victim cried for help Tuesday (18 Nov)
  3. Prime Minister Modi arrives in Fiji Wednesday (19 Nov)
  4. Bula Mr Modi Wednesday (19 Nov)
  5. Modi-fied Thursday (20 Nov)
  6. Modi announces visa on arrival for Fiji people Wednesday (19 Nov)
  7. WHAT FIJI WILL GET Thursday (20 Nov)
  8. PM says sorry Thursday (20 Nov)
  9. Big cheer for a PM of good tidings Thursday (20 Nov)
  10. MPs boycott Wednesday (19 Nov)