Business

FNPF faces regulatory hurdles in overseas expansion

February 23, 2025 7:27 am

The Fiji National Provident Fund is facing challenges in setting up in overseas due to restrictions in law.

The focus of the FNPF’s overseas efforts centers on the Fijian diaspora in the United States, Australia, and New Zealand, many of whom participate in seasonal work schemes.

Chief Executive Viliame Vodonaivalu says they have made a number of reviews to assess the possibilities, and there are certain legal restrictions that they need to navigate.

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He says this involves regulatory requirements, particularly as they would be treated like a superannuation fund in those countries.

Vodonaivalu says New Zealand is one country where the FNPF has made progress.

“So, we’ve made an attempt to places that allow us. So, we’ve done a bit of arrangement with New Zealand workers.”

Australia, we’re still facing issue because of this restriction.

FNPF General Manager, Member Services, Alipate Waqairawai says the fund is prioritizing the review.

“We are currently working closely with, in conjunction with the Ministry of Employment, together with the New Zealand government, in getting our workers that are being sent to New Zealand to sort of see whether we can, that they be enrolled on here before they leave for New Zealand.”

Waqairawai says the FNPF is promoting the use of its MyFNPF mobile application, which allows diaspora members in Australia, New Zealand, and Britain to conveniently manage their accounts and remit funds.