FNPF annual reports 2008/2009

[posted 10 March 2009, 1515]

The 2008 Annual Report of the Fiji National Provident Fund has now been published and is to be released to stakeholders after it is tabled in Cabinet.

This is the information provided by the FNPF to queries from Labour Leader Mahendra Chaudhry about delays in releasing the two annual reports.

Mr Chaudhry had written to the chairman of FNPF Mr Ajith Kodagoda on 3 March seeking an explanation as to why the 2008/2009 accounts had not been published as yet.

The FNPF Act requires annual reports to be audited, certified and published as soon as possible after the close of the Fund’s financial year on 30 June. Based on this criteria, the two annual reports are well overdue.

FNPF general manager and chief executive Aisake Taito said in reply to FLP queries that the 2008 Annual Report would be distributed to stakeholders once it was tabled in Cabinet by the Prime Minister and Minister of Finance.

“The 2009 report is being finalised and is due out by the end of next month,” Mr Taito said.

“We will have to await the tabling of the reports in Cabinet before we get to know how the Fund has performed in the past two years.

“There is mounting anxiety among members as to the safety and security of their pension funds, and long delays in publication of accounts do not help allay their fears,” said Mr Chaudhry.