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The Fiji National Provident Fund (FNPF) has so far assisted about 25,046 members in phase two of the COVID-19 relief package.
FNPF Chief Executive Jaoji Koroi says this has resulted in a $13.7million (US$6.4 million) pay-out, of which $7.2 million (US$3.3 million) was subsidised by Government.
Koroi said this amount excludes $1.4 million (US$655,000), which was paid earlier to 6,255 members who applied in Phase one and had a general account balance of zero to $35 (US$16).
The Fund reveals that to date about 15,000 members in phase two have exhausted funds in their general account. Three payments have now been completed.
Announcing the new application dates for Phase 3 Tuesday – the CEO says this assistance will be for those on reduced hours or wage rates.
“As announced by the Honorable Minister for Economy in the previous week’s national budget address, Phase 3 will be rolled out soon to assist members who are still working but are on reduced hours or reduced wage rates to enable them to access this short-term financial help. We understand that these members are still earning so Phase 3 is really to help them supplement their financial positions”.
Applications for phase 3 can be made from 10 August and the first payment will be processed on 25 August.
Those whose working day is reduced by one day per week will be eligible for $44 (US$20) per fortnight or total amount payable per member will be $220 (US$110).
While those whose hours are reduced by two days per week will be eligible for $88 (US$44) or total amount payable will be $440 (US$220).
Reduced by three days per week – amount eligible per week is $132 (US$61) or $660b(US$330) total amount payable per member.
Reduced by four days or more – amount eligible is $176 (US$82.4 million) or total amount payable $880 (US$440).
Members whose wage rate has been reduced will be eligible for a lump sum payment of $550 (US$275) or $1,100 (US$550) depending on the percentage reduction in their wage rate.
The FNPF is looking to assist a minimum of 53,000 Fijians in Phase 3.
SOURCE: FBC NEWS/PACNEWS
Pacific Islands News Association
Who & What is PINA?
International News Safety Institute (INSI)
Media Helping Media