Pension withdrawal not compulsory at 55 – FNPF

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Members at the FNPF headquarters in Suva. Picture: FILE

Members of the Fiji National Provident Fund (FNPF) are not obligated to take their pension at 55 years old.

FNPF’s general manager member services Alipate Waqairawai said members are free to continue with their contributions after they’ve reached 55.

“The scheme design at FNPF is such that you can now withdraw at any time,” Mr Waqairawai said.

“Although the entitlement age is 55, you can retire at 57, 58 or whatever age that you are comfortable to retire at.

“You don’t have to come and tell us. If you are still working and you want to continue with your contribution, you can do so.”

FNPF held its annual member forum in Suva on Thursday after a week around Viti Levu.

One of the challenges faced by the fund is the low take up rates of its retirement products, a worldwide trend, according to Mr Waqairawai.

Last year, a total of $189.7million was withdrawn based on retirement from FNPF compared to $209.8m in 2022.

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