FIJI - Members of the Fiji National Provident Fund (FNPF) will benefit from a 0.25% increase in the interest rate credited to their accounts.
FNPF Chairman Anare Jale said, “the increase in interest, from 6.25% to 6.50%, is attributed to the improved returns earned from investments that have been prudently undertaken by the fund.”
He added the future looked positive for the FNPF and its members since the fund aims to further diversify its portfolio.
“This is a positive result for the fund which reflects the commitment by management and staff in ensuring the improved returns for members,” Jale continued.
Statistics released in May 2006 showed increases in membership registration by 32.60%, contribution collected by 7.94%, investment income by 21.37% and members fund by 6.80%, in comparison to the same period last year.
By Angele Spiteri Paris
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.