26 Nov 2002

Fiji NPF has record year

11:46 am on 26 November 2002

The Fiji National Provident Fund says it had a record year in terms of increasing contributions.

The Fund's annual report says members contributions increased by nearly 7 percent to 89-million US dollars, taking its total assets to over 1.3 billion dollars.

During the yea,r the Fund recorded 12-thousand new employees and paid out 80-million US dollars in withdrawals and pensions.

The Fund chairman and Reserve Bank governor, Savenaca Narube, says the FNPF played a pivotal role in the recovery of the economy after the May 2000 coup.