17 Jun 2009

Fiji regime asked to reverse pension cuts

2:45 pm on 17 June 2009

The executive director of Fiji's Council of Social Services is drafting a submission to ask the Prime Minister and the FNPF board to increase pension payouts by at least 20 percent.

Hassan Khan has raised concerns at the government's recent move to drop pension annuity from 15 percent per annum to about 11 percent.

Given inflation, the devalued Fiji dollar, the higher cost of living and the global economic crisis, he says slashing members entitlements further is detrimental.

For members ending their working lives who will have paid into a pension fund for decades he says many will struggle to survive on the pension entitlement on offer.

"The senior citizens, or the pensioners, will be very hard pressed to make ends meet because of the rising cost of everything, given the current situation. And our view is also that pensions play a very strong role in the reduction of poverty among senior citizens."

Hassan Khan