Fiji National Provident Fund : A sustainable rate

A sustainable rate

20 August 2011

What pension rate is sustainable?

Working out a sustainable pension rate is a complex task, needing actuarial expertise.

Actuaries are experts in evaluating the likelihood of events, the financial impacts of these, and recommend ways to manage these risks.

Actuaries apply sound mathematical models to understand what happens in different scenarios/situations including if:

• investment returns are lower than expected

• members generally live longer than expected

• higher than expected inflation

• Loss of the underlying value of an assets (as was experience around the world during the Global Financial Crisis)

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News Archive

2012
2011
2010
2009
2008
2007
2006
2005
2004

May

Apr

Mar

Feb

Jan

04/05/2012: FNPF Delivers Promise Made to All Its Pensioners

18/04/2012: FNPF releases first batch of pension payout

12/04/2012: 4500 Pensioners Set to Receive First Pension Payment

05/04/2012: OFFICE CLOSURE

04/04/2012: FNPF to help Flood affected members

02/04/2012: PENSION PAYMENT DATES : New Pension Scheme

28/03/2012: Pension Orders

28/03/2012: FNPF Unvalidated Pensioners Listing

23/03/2012: Sustainability is Our Priority

29/02/2012: FNPF to continue to validate to the end of March

10/02/2012: FNPF Urges Pensioners to Validate & Choose New Pension Option

07/02/2012: FNPF TO HELP FLOOD AFFECTED MEMBERS

01/02/2012: FNPF Donates to PM's Relief Fund

27/01/2012: Validation is Important for Future Pension Payments

25/01/2012: Important Message

19/01/2012: Overseas based pensioners

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Jan

28/12/2011: Fiji National Provident Fund Pays Landowners $1.2miilion

09/12/2011: Mobile Pension Counselling & Validation Sessions

25/11/2011: FNPF announces Reform result

24/10/2011: FNPF Annual Report 2011 Summary

21/10/2011: FNPF Achieves net surplus of $242.6 million for 2011

15/09/2011: Double Award for FNPF Intercontinental Hotel

14/09/2011: FNPF To Write Back $33.5 Million Through Investment Rehabilitation

13/09/2011: FNPF & FRCA Sign MOU on Information Sharing

03/09/2011: Sharing the Burden of the Pension Reform

02/09/2011: New FNPF Nadi Agency Opens its Doors

27/08/2011: Sustainable Options

20/08/2011: A sustainable rate

13/08/2011: Why Review FNPF Pension?

16/07/2011: FNPF clarifies Pension Reforms

01/07/2011: FNPF declares 5.25% interest for FY2011

15/06/2011: Proposed Changes to the FNPF Act & Pension Scheme

08/06/2011: FNPF assures members all submissions will be considered

02/05/2011: Proposals for Reform of FNPF and Fiji's Retirement Savings Scheme

28/04/2011: Outsourcing of Member Statement Processing

18/03/2011: Unclaimed Deposits of Members Over 65 years

03/03/2011: FNPF launched new SUPERTxt service

03/03/2011: FNPF Teams will be out various locations for SUPERTxt Registration

02/03/2011: FNPF Members Receive Discount

01/01/2011: FNPF members to pay own funeral expenses

Dec

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Feb

Jan

31/12/2010: FNPF Members fined for obtaining funds through fraudulent means

01/12/2010: Students to begin Financial Literacy with FNPF from 2011

25/10/2010: Housing and Partial withdrawal policy changes

15/10/2010: Notice of winding up petition

01/10/2010: FNPF member behaviour survey

29/09/2010: FNPF Customer Service Reform Pilot Projects

23/08/2010: Notice - Former FNPF Tenants Refund

22/07/2010: FNPF REFORM UPDATE: Sustainability is key focus

22/07/2010: INTRODUCTION - REFORMS

01/07/2010: EMPLOYERS WHO HAVE NOT PAID FNPF CONTRIBUTIONS

30/06/2010: Ref: 07/10 FNPF Re-Assesses Strategies for Momi

29/06/2010: Ref: 06/10 FNPF declares five per cent interest for FY2010

25/06/2010: Are Your Contributions In Your Account?

25/06/2010: EMPLOYERS WHO HAVE NOT PAID FNPF CONTRIBUTIONS

11/06/2010: EMPLOYERS WHO HAVE NOT PAID FNPF CONTRIBUTIONS

31/05/2010: EMPLOYERS WHO HAVE NOT PAID FNPF CONTRIBUTIONS

24/05/2010: 10 Days

24/05/2010: General Auction: Fiji Malthouse Brewery Co Ltd - Brewery and Office Equipments

21/05/2010: EMPLOYERS WHO HAVE NOT PAID FNPF CONTRIBUTIONS

20/05/2010: Ref: 04/10 FIJI NATIONAL PROVIDENT FUND RELEASES ITS 2008 ANNUAL REPORT

20/05/2010: Ref: 05/10 FORENSIC ACCOUNTANTS BEGINS FNPF WRITE-DOWN INQUIRY

14/05/2010: EMPLOYERS WHO HAVE NOT PAID FNPF CONTRIBUTIONS

11/05/2010: EMPLOYERS WHO HAVE NOT PAID FNPF CONTRIBUTIONS

10/05/2010: Your Fund is Safe!

04/05/2010: EMPLOYERS WHO HAVE NOT PAID FNPF CONTRIBUTIONS

27/04/2010: NEW REQUIREMENTS for PRIVATE EDUCATION INSTITUTES

14/04/2010: Annual Report 2008 Summary

12/03/2010: Suspense Listing

19/02/2010: Attentions Employers: Suspense

19/02/2010: Attentions Employers: Contribution

15/01/2010: Ref: 03/10 FNPF BEGINS REFORMS

13/01/2010: 02/10 FNPF CLARIFIES REVIEW REQUIREMENTS

12/01/2010: Approved Education Institutes

08/01/2010: Ref: 01/10 FNPF Reviews Listing of Approved Education Institutions

Jan

Dec

Oct

Sep

Jul

Jun

May

Apr

Mar

Jan

03/01/2011: Partial Withdrawal Guidelines

21/12/2009: Ref: 24/09 FNPF serves members an early Christmas treat

17/12/2009: Festive Season Closing Hours

07/12/2009: No Agents

01/12/2009: Ref: 23/09 FNPF WARNS MEMBERS TO BEWARE OF FALSIFICATION OF FEES

30/10/2009: Ref: 21/09 FNPF to gain full ownership of Momi Bay Resort

29/10/2009: Ref: 20/09 FUND ANNOUNCES CHANGES TO ITS HOUSING WITHDRAWAL POLICY

13/10/2009: Fiji National Provident Fund distributed $23,577.00 funds

07/09/2009: Suspense Listing

04/09/2009: Public Notice

03/09/2009: 19/09 Miss FNPF wins Hibiscus 2009 Crown

01/09/2009: Suspense Listing

28/07/2009: Ref: 18/09 FNPF ANNOUNCES HIBISCUS CONTESTANT

14/07/2009: Stage One Momi Fiji: Auction by first Mortgagee

10/07/2009: Ref: 17/09 FNPF declares five per cent interest for FY2009

08/07/2009: Ref: 16/09 FNPF Undergoes Major Restructure

02/07/2009: New FNPF Membership Cards

23/06/2009: Ref: 15/09 FNPF CALLS ON LAUCALA ISLAND WORKERS TO VERIFY CONTRIBUTIONS

23/06/2009: FNPF Rebranding Supplement

19/06/2009: Ref: 14/09 Fund Appoints Mercer to Review Pension Scheme

11/06/2009: PMs Address at the Launching of the New FNPF Brand

08/06/2009: Ref:13/09 FNPF moves on Momi Bay Project

08/06/2009: Ref:12/09 PM to launch FNPFs new brand

28/05/2009: Ref:11/09 FUND OPENS A NEW BA AGENCY

28/05/2009: Ref:10/09 FNPF Strengthens its Compliants Function

04/05/2009: Ref: 05/09 Suva Holiday Inn Declared Dividend

01/05/2009: FNPF clarifies Narsey's Opinion Column

01/05/2009: FNPF clarifies misconceptions about FY2007 Annual Report

01/05/2009: Ref: 07/09 FNPF Board announces changes to withdrawal policies

17/04/2009: Ref: 09/09 An iconic building takes shape in the heart of Suva

26/03/2009: Ref: 08/09 Withdrawals have been streamlined not eliminated: Board Chairman

06/03/2009: Ref: 06/09 Flood assistance processing time extended

19/01/2009: Ref: 04/09 Press Statement by the Fiji National Provident Fund

16/01/2009: Ref: 03/09 FNPF Flood Assistance to Flood Affected Members

May

Jan

Dec

Oct

Mar

01/05/2009: FNPF has new Board Chairman

01/05/2009: Aisake Taito is new FNPF CEO

01/05/2009: Fund suspends three senior officers

01/05/2009: Fund appoints Mr Francis B. Narayan as its advisor

01/05/2009: Ref: 01/10/08 Chand is new FNPF Board Chairman

01/05/2009: FNPF declares six per cent interest for FY2008

01/05/2009: Partial & Housing Withdrawal Guidelines

01/05/2009: Ref: 18/12/08 FNPF guards investment portfolio

01/05/2009: Board terminates top executives

01/05/2009: Board says lawyers looking into suspended officers case

02/01/2009: Ref: 3012/08 FNPF urges members to save for retirement

19/12/2008: Ref: 2912/08 FNPF undergoes rebranding exercise

18/12/2008: Ref: 1812/08b FNPF appoints two executives

02/10/2008: Ref: 02/10/08 GPH Tender

16/03/2008: FNPF commits to resolving pay issues

May

01/05/2009: FNPF pays out $128.94m to members

01/05/2009: FNPF clarifies its investment in Natadola

Jun

28/06/2006: FNPF declares 6.5% interest to members

Dec

Sep

Aug

Jul

Apr

Mar

14/12/2005: InterContinental Hotels Group awarded management contract for Fiji's Grand Pacific Hotel, Suva

22/09/2005: FNPF to introduce medical scheme

15/08/2005: Post Fiji and FNPF offer joint service

22/07/2005: Grand Pacific Hotel redevelopment commences

11/04/2005: FNPF pursues own health

07/04/2005: FNPF hosts Reps of Tonga Retirement Fund Board

31/03/2005: FNPF education scheme

Aug

19/08/2004: New F.I.R.C.A Head Quarters building project at Nasese

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