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FNPF members can withdraw to fund parents' study

Monday, February 05, 2018

Update: 2:09PM THROUGH the Fiji National Provident Fund's new education policy, members can now conduct partial withdrawals for their parents' studies and textbook allowance has also increased to $400 per student for every semester of study.

This came into effect on February 1 this year after the FNPF announced the approved changes to its withdrawal policies late last year.

Also, a maximum of $2000 is allowed for overseas incidental expenses for Year 12 sponsored students.

The FNPF assistance is only for accredited institutions and courses that are examinable resulting in academic certification.  

FNPF chief operating officer Jaoji Koroi said while they constantly highlighted the importance of saving for retirement and that members now have 70 per cent of their balances preserved for their retirement, FNPF was also mindful of its members' pre-retirement needs.

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