Good news as FNPF members balances will be boosted by a 6.35% annual interest announced by the FNPF Board for the financial year ending 30th June this year.
About $289 million will be credited to members’ accounts on Saturday night.
Last year, FNPF also declared a 6.35% interest that resulted in $270 million being credited to members’ accounts.
FNPF’s Chief Executive Officer, Jaoji Koroi says the interest has been declared after providing for the Fund’s solvency and has been signed off by the Fund Actuary in compliance with FNPF Regulations.
Koroi says the interest declared should be reassuring for the members as it continues to reflect the Fund’s strong financial position following the FNPF Reforms.
He says it is also very competitive under the current investment climate.
Koroi says whilst the investment environment is an ongoing challenge, the Fund continues to pursue an active stance to optimise returns on members’ funds.
He says it is also important for members to understand that the 6.35% interest credited depends entirely on the balance of their account, taking into consideration movements during the financial year 2018.
The Fund is also encouraging members to register on its various e‑services channels to check their account balances.
