21 Jun 2011

Fiji pension fund submissions collated

4:57 pm on 21 June 2011

Officials at the Fiji National Provident Fund are collating submissions on controversial changes to the superannuation scheme.

The FNPF's proposing wide-ranging changes to the superannuation scheme, including reducing pension returns from 15 percent to nine percent.

A fund spokesperson says submissions have closed and a report will be compiled for the FNPF board.

If the interim government's cabinet approves the changes, new legislation governing the fund will be brought in.

Unions, pensioners and economists have hit out at the proposals which they've described as hasty, draconian and lacking transparency.