2 Aug 2011

Fiji economist says pension fund lawsuit could see landmark decision

1:14 pm on 2 August 2011

A Fiji economist says a case before the courts between a pensioner and the Fiji National Provident Fund could be a landmark verdict.

The FNPF and the interim Attorney General are being taken to court by David Burness, who says proposed changes to the pension, including drastic cuts, are discriminatory.

Professor Wadan Narsey, from the University of the South Pacific, says the planned FNPF action strikes at the heart of private property and legal contracts.

He says the government has been borrowing money off the FNPF for some time.

"The bigger picture is that this military regime wants to keep on milking this cash cow, that's been there for them for 40 years, and one of the ways they want to do it is to reduce the pensions to existing pensioners, which is illegal, and almost certainly, they will reduce the pensions to future pensioners."

Professor Wadan Narsey