The government is committed to strengthening the governance of the Fiji National Provident Fund, including ensuring that the right people are in the board and executive positions who can make firm decisions for the betterment of its members.

Deputy Prime Minister and Finance Minister Biman Prasad highlighted this during the discussions on the FNPF Hotels Board Strategy.

Prasad says they have empowered the board and management to take decisions without political interference and with only members’s interests at heart.

He says in the recent budget, they amended the FNPF Act to bring back the tripartite spirit in the board of FNPF with a legislative requirement now to have an employer and employee representative in the board.

He says this will ensure that the employees and the employers will now have a greater say in the governance and strategic affairs of FNPF.

The Finance Minister adds that they have also restored the contribution rates back to 18 percent to ensure that FNPF members are not deprived of the mandatory savings.

He adds they have also given justice to those FNPF pensioners who were robbed of their pensions when the military regime unilaterally reduced the pension rates in 2011.

He says that had been a long fight, and the government took it upon itself to fund the reinstatement cost in the recent budget.

Prasad says all these major efforts have helped build confidence and trust in FNPF.

The Minister says the recent performance of FNPF and the declaration of the eight percent interest on member balances have added to that positivity, and it is time to capitalize and build on that momentum.