FNPF concerned with unidentified contributions

June 24, 2009 10:49:27 AM

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The Fiji National Provident Fund has raised concern over a substantial’ sum of workers’ contribution from Laucala Island resort that are now lying dormant and not earning interest in the Fund’s suspense account.

FNPF chief executive officer Aisake Taito issued a statement yesterday urging workers that are working or have worked on Laucala Island to check if their FNPF contributions have been paid into their individual accounts.

This comes after the fund recorded an increase in contributions paid into unidentified
accounts from Laucala Island.

“We suspect that some of these recipients have yet to register with the Fund and we need all former and current employees to visit any of our Customer Service officers to verify that their FNPF contributions have been paid into their accounts,” Taito said.

“The Fund needs its members’ assistance in ensuring that contributions are paid in a timely manner to their accounts,” he added.

Taito also called on employers to take responsibility in ensuring their staffs are registered with the Fund upon employment.

“The FNPF Act compels all employers in Fiji to register their staff with the Fund upon employment and ensure their 16 percent of salary contributions are paid,” Taito said.

He said unclaimed funds placed in FNPF’s suspense accounts and if remain unclaimed will be transferred to the Fund’s general reserve account without gaining interest.