June 15, 2011

Trade Union body to examine superannuation reforms

FNPF reforms on FICTU agenda
Avinesh Gopal
Wednesday, June 15, 2011

THE Fiji Islands Council of Trade Unions will hold a meeting this afternoon to discuss the Fiji National Provident Fund reforms.

FICTU general secretary Attar Singh said the union obtained a permit for the meeting at the Suva Civic Centre from 5pm.

Mr Singh said, "FICTU believes that while there may be a need to bring about reforms some time in future, there is no justification to rush it and create an environment of fear and panic given that the fund was sustainable on current terms for more than 30 years into the future."

"Further, any reform of this nature needs to be transparent, conducted independently and take full account of the social consequences."

"FNPF proposes to reduce all current and future pensions to around nine per cent, restricting lump sum withdrawals on retirements and introducing compulsory pension instead and also restricting withdrawals for other purposes currently allowed."

Mr Singh said the FNPF proposals have been strongly opposed by FICTU associated members and pensioners at the FNPF consultations.

He said the FICTU meeting would discuss the FNPF proposals and concerns of the pensioners and members and also consider alternative proposals and resolutions for submission to the FNPF.

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