Hope for pensioners?
writer : Emelita Wilson Suva
In comments on Fiji One News (27/5/11) the FNPF’s chief executive officer gave pensioners a reason for hope. He made it clear no final decision has been made to reduce the pensions of existing pensioners.
I speak for many who believe their pensions are to be substantially cut.
I felt duty-bound to express my concerns at the packed meeting at the Civic Centre, Suva, on May 26 to hear about the FNPF plans.
The meeting was tense. There was concern and anger in the room, and fear too. This came through in comments from the floor.
I never imagined a time would come when I would need to speak out to defend our pensions, and pension arrangements.
It’s been suggested that somehow we are wilfully exploiting the rest of the fund members. We’ve done nothing wrong.
We signed on for pension options offered by the FNPF.
The option we each chose became a legally-binding contract for payments for the rest of our lives.
Thousands of pensioners have planned their retirements on that.
If the FNPF breaks those contracts, the consequences will be profound legally, morally and socially.
Yes, reform is needed, but there is no immediate crisis because we’re told the fund can continue with present arrangements until 2050.
Current pensioners will be long gone before that.
It would be callous to the point of cruelty to take a large portion of pensioners’ legally-agreed income away in the present circumstances.
- Rose Langi, Transparency International (TI) - Transparency & Accountability
- Promontory - A New Act
- Promontory - A New Retirement Savings Act
- Mercer - Assessing FNPFs Pension Model
- FNPF - Day 1 Synopsis
- Fiji National Univeristy, Dr Mahendra Reddy - Equitable and Fair
- FNPF - Facts, Figures & Challenges
- FNPF - Proposed Changes to Pension Scheme
- Rajeshwar Singh, Fiji Public Service Association
- Salote Radrodro, Ministry of Social Welfare, Women & Poverty Alleviation - Briefing on State Welfare Programs and the Way Forward via an Integrated Approach
- Deputy Governor, Reserve Bank of Fiji - Regulatory Changes