Upon your retirement you have the right to take lump sum withdrawal from FNPF but the advice from FNPF is to think carefully about the consequences of your decision.
This has been stressed by FNPF General Manager Member Services Alipate Waqairawai while announcing the details of the FNPF’s upcoming West and North Retirement Expo.
Approximately 73% of the FNPF members have a balance of $10,000 or less and this is a real concern.
Waqairawai says that it is important for retirees to seek proper advice from FNPF.
He adds that in the Fijian context when someone gets access to a large sum of money, all the long lost relatives will find you, and as soon as that money is exhausted no one will buy a bundle of fish or dalo for you.
Waqairawai says that this often leads to people depending on others.
Waqairawai added that this is why FNPF has the members’ pension scheme which is a monthly income for retirees therefore he says that it is important for retirees to make the right choice to become financially independent.
The Lautoka Expo will be held at Tappoo City in Lautoka from the 19th to the 22nd of this month while the Labasa Expo will run from the 26th to the 29th of this month.ADVERTISEMENT Listen to the latest news on our 5 radio stations Legend FM, Viti FM, Radio Sargam, FM96 and Navtarang.