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The Fiji National Provident Fund recorded a net profit of over $359 million (US$172 million) as at 31June, an increase compared to last year.
General Manager Member Services, Alipate Waqairawai, says the fund recorded a net profit of around $231million (US$111 million) last year.
Waqairawai says they have recorded an increased in member contributions from $4.4 billion (US$2.1 billion) in 2016 to $4.9 billion (US$2.3 billion) in 2017.
“This year we collected about 546.2 million dollars up from $480.6 million (US$231.2 million) in 2016. That is an increase of 13.6 percent. Our return for investment for this year was 6.8 percent so we paid out and we declared an interest of 6.35 percent to members and that totalled about $270 million (US$129.8 million) which was credited to our members.”
The FNPF has been informing the members about their financial status in Labasa since last Friday.
The team will move to Suva and the West later this week.
SOURCE: FBC NEWS/PACNEWS
Pacific Islands News Association
Who & What is PINA?
International News Safety Institute (INSI)
Media Helping Media