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FNPF makes drastic changes to pension plans. See if affects you.

8 February 2012 11,644 No Comment

From The Chief Executive Officer, FNPF, Fiji

Ni sa bula vinaka.

As you may be aware, changes to the FNPF Pension
scheme will now come into effect on March 1, 2012. Changes to the scheme have
been absolutely necessary to ensure that the Fund remains sustainable in the
long-term by the introduction of actuarially-fair rates.

Key Changes to the FNPF Scheme

· A new age-based pension rate will be implemented on 1 March, 2012

  • · All pensioners will be offered a refund of the initial amount they had
    pensioned
  • · Pensioners
    will then have the option to choose from a number of combinations under these
    three options including:

i. Life Pension

ii. Term Annuity
(5, 10 & 15 year periods)

iii. Lump sum
withdrawal

Validation Options for
Overseas-based Pensioner

All pensioners need to
validate themselves and be counseled on the new pension options. As a pensioner
living abroad you have two options for validation. These are:

1. Present yourself at the nearest Fiji Diplomatic
Mission (addresses attached); or

2. Contact FNPF via skype on this address
fnpf_pensioner

Important Documents
Required for Validation

To validate yourself, you
would need the certified following documents:

1. Identity
card – you can provide ONLY one of any of the following

i. Certified copy of FNPF
pensioner identification card – front and back; or FNPF Member card – front and
back

ii. Certified copy of
pensioner passport – passport cover and personal details page;

iii. Certified copy of
pensioners’ drivers license – front and back

2. Compulsory Documents – You
need to provide all of these

1) Certified copy of birth
certificate (Justice of Peace cannot certify this)

2) Certified copy of Marriage
certificate

3) Certified copy of Death
certificate of spouse, who was a FNPF member (only to be provided by pensioner
who qualified for pension after the death of their spouse as a joint pensioner)

4) Two (2) certified recent
passport photo; and

5) Certified copy of Pensioner
Nominee birth certificate and nominee’s recent passport photo also certified.

3. Who can Certify Identity
Cards & Documents

Certification of the above documents can be done by any
one
of the following:

1) Commissioner of Oaths

2) Notary Public

3) Barrister and/or Solicitor

4) Justice of Peace (they can
certify all documents except for the Birth Certificates this has to be
certified by any of one of those listed in 1-3 above).

We have also attached(Because of the volume Fijiana Times withheld this attachment. If you are
affected by the changes please email the Editor of Fijiana Times who will
forward it to you.) the following to assist you in making that important
decision – Key Feature Statements on Term Annuity, Life Pension and Top-Up.

The Pension Option Form is
also attached and you may fill this in and post it to us on the address below:

FNPF Pensioner

Fiji
National Provident Fund

33 Ellery Street

Suva

FIJI

Please be reminded that
your completed pension option form will be accepted by the Fund, only if you
have validated yourself as stated above.

It is important that you
choose a new pension option under the new scheme before February 29, 2012.

Should you require further
information, please call our Pension Support Line on (679) 323 8888, 662
8088,888 1918 or email pensioner@fnpf.com.fj

The Fund looks forward to serving you.

Yours sincerely,

Kuineta Sakimi

for CHIEF EXECUTIVE
OFFICER ..

 

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