Low-income earners and those employed in the informal sector can now make voluntary pension contributions through their mobile phones.
Fiji National Provident Fund and Vodafone Fiji today signed a memorandum of understanding that will enable market vendors, farmers and fishermen to make contributions to their FNPF accounts with their mobile phones via Vodafone Mpaisa.
FNPF through the assistance of the Pacific Financial Inclusion Programme is piloting this new innovative mobile payment solution which allows low‑income earners to make small contributions conveniently anytime, anywhere using their Vodafone M‑PAiSA account.
FNPF Chief Financial Officer Pravinesh Singh says that the digital model is designed to encourage more Fijians to actively save for retirement and to remove the hassle of lining up at an FNPF branch and to provide a means for rural Fijians to make contributions and secure their future.
He says that over the next 6-9 months, FNPF will be testing the product with at least 500 new registrants from the informal sector.
Head of Vodafone E‑Commerce and Corporate Affairs Shailendra Prasad says that this product makes it possible for people in the informal sector to save money towards their retirement.ADVERTISEMENT Listen to the latest news on our 5 radio stations Legend FM, Viti FM, Radio Sargam, FM96 and Navtarang.