FNPF renews certificate cycle for pensioners
16 August, 2018, 7:30 am
THE Fiji National Provident Fund has revised its renewal certificate cycle for pensioners from four to six months.
According to FNPF, this means that pensioners will only need to visit FNPF offices twice instead of three times a year, to submit their signed renewal certificates to ensure continuity of pension payments.
Making the announcement yesterday, FNPF chief executive officer Jaoji Koroi said the changes were made in direct response to requests made by pensioners at the FNPF annual member forums last year.
“Pensioners have highlighted the challenges faced with meeting the quarterly deadlines to ensure they receive their pension on time,” Mr Koroi said.
“The four-month cycle was a control mechanism put in place to ensure we minimise the financial losses (if any) resulting from the death of a pensioner during the period.
“Many of them have told us that they found the current four-month cycle challenging because of their age and so we decided to change the renewal frequency.”
Mr Koroi said while shorter periods enabled better control, the new cycle would reduce the high count of renewal certificates that were dispatched.
Monthly pensions are only paid once the renewal certificates are received at FNPF offices.
The new pension renewal cycle is effective from August 13.