Praneeta Prakash 
The Judicial Department is working on a draft agreement with the Fiji National Provident Fund to address issues with the management of FNPF funds held by the judicial system.
The funds mainly involve accounts for minors, where money is deposited after a worker’s death, often for their children.
According to Deputy Registrar Legal Ravendra Kumud, for the moment, funds held for minors do not accrue interest or returns.
“Suppose the child had $10,000 coming in from the father’s account to the child. The child only gets back the money when he turns 18. In the interim, they’re able to withdraw funds for say, school expenses. Generally, that’s what we are now. So the 10,000 that was put in in a particular year, say 2010, will remain $10,000 if there’s no withdrawal when the child turns 18. The idea is to invest the money so that they get some returns when they reach the age of maturity.”
Kumud said this was expected to reduce the burden on the court system, eliminate the backlog, and ensure that funds are properly invested.
“So the MOU is in draft form, actually was done one or two times, went back and forth. It’s now ready for discussion with the team and we should be having the discussion probably in the next two weeks.”
Standing Committee on Public Accounts Chair, Esrom Immanuel said the Judicial Department has four trust fund accounts and the funds have been accumulating over the years.
The funds now stands at $45 million which is an increase of $14 million since 2019.
