426 have $500k-plus | FNPF’s 2024 Annual Report

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Members being served at the FNPF office in Suva. Picture: JONA KONATACI

The number of Fijians with more than $500,000-plus balance with Fiji National Provident Fund (FNPF) has gone up in 2024 when compared with last year.

The FNPF’s 2024 annual report reveals there are 426 members with a half a million-plus balance compared with 366 in 2023.

For the first time, one Fijian between the age of 25 and 34 years has a balance of more than $500,000.

The number of people with zero balance has reduced by 286 between 2023 and 2024.

The FNPF paid out $474.2m to members in 2024 compared with $476.3m in 2023.

Out of this $194.9m was for retirement and $73.4m for migration.

About 203,692 Fijians have a balance up to $5000, out of which 70,126 are between 25-34 years.

About 114,848 members have a balance between $5000-$20,000, with 47,968 in the 25–34-year bracket.

About 1120 Fijians have a balance between $250,000-$500,000 while 9426 members are between $100,000-$250,000.

The FNPF paid out $474.2m to members in 2024 compared with $476.3m in 2023. Out of this $194.9m was for retirement and $73.4m for migration,

The Fund paid out $66.3m in early retirement to members in 2024 compared with $49.4m in 2023.