30 Apr 2009

Retirement agency has enough funds: Fiji NPF

11:21 am on 30 April 2009

The National Provident Fund in Fiji says it has enough money to provide funds for almost 2000 civil servants who are retiring on Thursday.

They're being forced to give up work under a new State Services decree, which has cut the retirement age from 60 to 55 years.

Provident Fund chief executive Aisake Taito says the retirees will have three options for their retirement savings.

They can withdraw the whole amount, have it paid as a monthly pension or take half and half.

Mr Taito says the fund is prepared to pay out more than $16 million.