I am writing in response to recent statements by the Fiji National Provident Fund (FNPF) regarding their positive financial performance.
While this news is encouraging, it raises a crucial question: If the FNPF is indeed doing well, should it not consider repaying past pension reductions to retired members?
Secondly, they have the capacity to pay substantial increase to the executive staff and there must be a COLA to others.
Many pensioners continue to face financial hardship due to the 2012 reductions in their FNPF pensions.
These reductions, although legal at the time, by a very dubious method, was implemented during a period of economic difficulties and caused significant loss of income for our senior citizens.
Now, with the FNPF reporting positive financial standing, I believe it is morally and ethically necessary to re-evaluate these past decisions.
The argument that the reductions were legal does not negate the financial strain and hardship they caused to some of our most vulnerable citizens.
Here are some compelling reasons to consider repaying past pension reductions:
■ Justice and fairness: Many pensioners contributed to the FNPF based on the expectation of receiving a specific pension rate.
Reducing those rates after their retirement raises concerns about fairness and justice.
■ Improved well-being: Repaying the reductions would alleviate financial stress for many pensioners, allowing them to afford basic necessities and improve their quality of life.
■ Economic stimulus: This injection of funds into the hands of senior citizens could stimulate the local economy as they spend their additional income.
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I urge the Government and FNPF board to consider this issue with compassion and a sense of justice.
Engaging in open dialogue with pensioners and their representatives to find a mutually agreeable solution would be a positive step.
By taking action to repay past pension reductions, the FNPF can truly live up to its stated mission of “securing your future”.
Let us ensure that this future encompasses not just future generations, but also those who have already contributed significantly
to Fiji’s development.
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