Fund encourages culture of saving

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FNPF chief operating officer Pravinesh Singh. Picture: SOPHIE RALULU/FT FILE

Fiji National Provident Fund acting CEO Pravinesh Singh is encouraging people in rural and informal sectors to save.

Speaking to the Standing Committee on Social Affairs about the FNPF’s 2022 Annual Report, he said member education and advocacy team were out in numbers in the rural and informal areas.

“We are doing our best to advocate members,” Mr Singh said.

“That’s an area where FNPF strongly feels there is room for improvement.

“This is a challenge that FNPF has taken on itself to grow membership balance apart from growing the member balance itself.

“Because the more you save in FNPF, the more you’ll have for your retirement, and of course for pre-retirement if there is an immediate need, for example, to renovate your house, or pay for your medical or pay for education.

“The other area is responsible investment in performance. That’s the second focus area, and we are also looking at ways we could simplify our operating models and bringing efficiency.”

He said they were also concerned with the mass exodus of people.

“What we’re currently experiencing is the mass exodus of people leaving our shores.

“That’s not only unique to FNPF. You would hear in the daily news, a lot of organisations are facing this problem.

“So as part of the staff retention strategy, we are training our people. As I speak there are few of our staff who are currently doing masters (degrees) in Australia. And again, we provide the best learning platform locally so that we could retain our people and become the employer of choice.”

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