HOUSING ASSISTANCE POLICY CHANGES

The following chnages will complement what is currently being offered to members

1. Assistance for Agricultural Lease

- Assistance shall be provided to purchase a freehold agricultural property or property having lease of 50 years or more
- Member has to occupy the property.
- If in future the member decides to subdivide the property then the funds transferred will need to be fully repaid before the 
  subdivision.

2. Subsequent Transfer - Debt Reduction Housing LOAN Only

- Further transfers may be considered for housing related debt reduction, provided the member's eligibility will reduce the
  outstanding debt by 25% or more.

3. Payment of fees to Fiji Public Trustees Corporation Limited to transfer bequeathed property to the member.

Qualifying Conditions:
- Assistance shall be provided under FNPF Direct Housing Scheme
- The Title should be free of any Mortgages, Caveats, non-FNPF charges and other encumbrances.
- The member has sufficient housing eligibility and his/her own funds to cover the total project cost .
- For every transfer FNPF shall register a charge over the property.
- Assistance shall be provided only for housing related costs incurred by FPTCL.

Permitted Use of Funds
- Payment of administrative fees to Fiji Public Trustees Corporation Ltd for members to have legal ownership on the
  property.
Maximum: Withdrawal amount
- 2/3rd of simulated account total less other withdrawn Funds.

4. Member can purchase more than two flats

- Members can apply for housing assistance to purchase properties having more than 2 flats.
- Lenders have to consent to FNPF ranking 1st for the total amount transferred
- The member's total commitment is within 100% of the valuation of the property.

5. Village Housing

- If a member was previously assisted with a house in the village, then he/she may purchase a second house in the urban
  area provided that:


- The funds approved under the Village Scheme were fully and properly utilized. 
- The member's parents or immediate family will occupy the house in the village. 
- Members shall not be entitled for any further transfers, if they have previously misused funds under the Village or
- Direct Housing Loan Schemes, unless their previous transferred amounts are fully repaid. 
- $43 Fees Applies per applicant under VHS


- Members will have to pay a re-activation fee of $10 if requesting for progress payments after 6 months since the last
  installment and submit the request together with photos, cash sale dockets & receipts. Property to be inspected.
- Members requesting for progress payment after 1 year since the last installment will need to fully repay the previous
  outstanding transfer and re-apply.
- Progress Payments - Five working days from receipt of cash sale receipts and photos showing progress of work certified
  by the Turaga-ni-Koro & Provincial Office.
- If project is less than $10,000 members shall submit their own scope of work and the breakdown of the project's
  estimated cost.
- If project cost exceeds $10,000, member to submit Registered Quantity Surveyor's or Civil Engineer's detailed report with
  scope of work and breakdown of the projects estimated cost to completion stage.

6. Provision for houses built in the remote parts of Vitilevu or in the islands

- First payment to be made direct to the hardware suppliers. In case if the member does not wish to proceed with the 
  application, hardware suppliers to return the funds to FNPF.
- The 2nd progress payment may be issued upon submission of cash sale receipts without construction commencing

7. Housing Related purpose – payment of town or city rates, land rentals, minor upgrading of a property to obtain an 
    engineer's certificate for housing purpose cover.

- The Fund has ceased assistance in paying town or city rates and land rentals.

8. Mortgagee Sale

- Member's previously assisted by FNPF for a property which has been sold under Mortgagee sale may be assisted to
  purchase another home without repayment of the previous transfer provided FNPF will rank 1st for the total amount
  transferred and the Lender 2nd mortgage. All securities will need to be within 100% of the valuation.

The above changes are effective immediately

PARTIAL WITHDRAWAL POLICY CHANGES

The following will complement current approved grounds of withdrawals provided under Education and Housing

1. Over 55 Partial o Member must be a re-entrant after withdrawing on reaching age 55

- Member must leave minimum balance of $250 in their account
- This assistance is offered twice in a calendar year and only once in 6 months
- $10 processing fee applies

This assistance is effective immediately

Those listed below will become effective on January 1, 2011

2. Full Withdrawal - Small Account

- To qualify , member must be 50 years old and above
- Members account balance must be less than or equal to $2,000
- Member must be unemployed for the last 3 years.
- Member cannot re-join as FNPF member after withdrawal on this ground.

3. Partial Payment of SDB for Funeral Expenses

This assistance allows partial payment of SDB from deceased members account to cater for his/her funeral expenses. The assistance is only for funeral expenses of the deceased member and cannot be accessed for any other expenses related to the member. Members are to nominate a person to receive the sum specified for funeral expenses by completing the Memorandum of Administration form, which will become available at all FNPF offices from next month

Approval Amount for the scheme
- The maximum amount that can be withdrawn is $2000 depending on the deceased members Special Death Benefit 
  entitlement.

Description of an eligible member
- Members who have not fully withdrawn from the Fund.
- Members account where the full SDB premium is deducted for the current financial year.

Who can Apply
- Persons nominated by the deceased member under the Memorandum of Administration will be eligible to apply for the
  withdrawal subject to the Funds requirements; this includes spouse, parents, siblings or children.
- In the absence of a valid Memorandum of Administration the payment shall be made as per Funds Guideline, which may
  be the spouse, parent if the member was not married, or the person in charge of the funeral in absence of the spouse
  and parents.
- No processing fees applicable

4. Funeral Partial

- Funeral assistance will only be given to next of kin of those members that are not eligible for $2000 SDB death assistance
- Members can be assisted up to a maximum amount of $1000.00 subject to eligibility.
- Assistance is provided for funeral expenses of spouse, siblings, children and parents only.
- $10 Processing fee is applicable.

5. Unemployment Partial

- Only applicable to members who have been terminated after 2 years of continuous employment o Members can be 
  assisted with up to a maximum amount of $2000 once only upon termination subject to eligibility.
- Members have to apply within 3 months of being terminated
- Members who resign from their jobs are not eligible
- $10 processing fee applies

Existing unemployment assistance of $500 will cease from 1/1/2011

6. Repayment of Partial Withdrawal

- All partial withdrawal grounds taken from members account since July 1995 are now entitled for repayment either in part
  or full payment. The Repayment is optional and is open to members.
- Members can pay cash or bank cheque at any FNPF Office closer to them or deposit into the Funds Nominated Bank
  Account (further details please contact our office)
- Members may request from 1st January 2011 for their statement of partial withdrawals taken and this can be issued at
  any FNPF office closer to you. This statement is free of charge.
- No Repayment will be allowed after the member reaches 50 years of age