1 May 2012

Fiji pension scheme now fool-proof says FNPF chief

4:03 pm on 1 May 2012

Fiji's main national pension scheme says its system is now fool-proof.

The Fiji National Provident Fund has been criticised for leaving many pensioners waiting for their payouts after a new scheme was introduced last month.

The fund earlier said technical glitches had prevented everyone from getting paid.

The fund's CEO, Aisake Taito, says vigorous tests have been done over the last week and the new online system is reliable.

He says with so much money involved it has been important to ensure that the amounts transmitted out of the Fund go to the right person.

The Fund has paid out about 52 million US dollars to 8,300 pensioners under the new scheme.

The FNPF brought in reforms last year to ensure its sustainability but there was a backlash from some pensioners who complained their contracts had been trashed.