The Fiji National Provident Fund (FNPF) now manages total assets worth $10.6 billion, with $8.1 billion belonging to its members, according to General Manager for Business Transformation Millie Low.
Appearing before the Parliamentary Standing Committee on Social Affairs, Ms. Low presented the Fund’s performance for the financial year ending 30 June 2024, highlighting both its financial strength and participation challenges.
“As of 30th June, we had about 423,000 members, of which only 264,000 were active,” Ms. Low said.
“When we say active members, what we mean is that we have received at least one contribution from these members in that financial year.”
She said only 14,100 active members were voluntary contributors from the informal sector, while the Fund currently has 8,488 active employers and about 7,800 pensioners.
FNPF’s strong financial position sees it holding 35 percent of Fiji’s financial system, second only to the banking sector.
“In terms of GDP, the Fund measures up to 78 percent of our gross domestic product based on 2024 figures from the Reserve Bank of Fiji,” Ms. Low told the Committee.
She said the Fund’s investment portfolio of over $10 billion is predominantly held in Fiji.
“About 58 percent of our portfolio is in defensive assets, and 90 percent of our investments are held locally,” she said.
Over the past five years, FNPF has credited an average annual interest rate of 6.95 percent to members’ accounts — a sign of continued financial stability and long-term focus.
“We continue to focus on ensuring our investments deliver consistent, stable returns for members while supporting Fiji’s broader economic development,” Ms. Low said.
