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Fiji National Provident makes major changes to withdrawal policies
2:05 pm GMT+12, 30/11/2017, Fiji

The Fiji National Provident Fund (FNPF) Board has approved major changes to its withdrawal policies covering housing, funeral, unemployment, medical and education assistance.
 
Effective 1 February 2018, the changes also include mode of payment for processing fees, allowing members to opt to have these fees directly deducted from their member balances.
 
PARTIAL/EARLY WITHDRAWALS
 
Education

 
*Members can now assist their parents;
*Increase in textbook allowance to $400(US$200) per student per semester twice a year;
* FNPF assistance is only for accredited institutions and courses that are examinable resulting in academic certification of attainment and not Participation/Completion;
*Members are only required to submit invoices from institutions if applying for accommodation assistance;
*Penster now recognised as a term of study;
*Overseas incidental expenses for Year 12 sponsored students;
*Maximum of $2,000 (US$1000) is allowed for overseas incidental expenses for short-term courses that are less than 6 months.
 
Funeral
 
*Maximum assistance has increased to $2,000 (US$1,000 from $1,500(US$725);
*Members next of kin is to apply within 30 working days from the date of death;
 
Unemployment
 
* Seasonal workers can now access this assistance;
*Members who have resigned on own accord or have cases pending disciplinary tribunals can apply after 3 months but within 6 months from the last date of employment;
 
Medical
 
*Assistance covers prosthetics, hearing aid and wheelchair; and funds will be paid directly to suppliers/vendors
 
Housing
 
Streamlining of Requirement

 
*Only ONE quotation each is now required from surveyor, labour and material costs for self-
    build projects, and general contractor quotation;
*Approved Plan and Valuation Report required ONLY for Fully Financed Applications;
*Valuation Report can be obtained from ANY registered valuer in Fiji;
*Title searches should not be more than 30 working days – previously it was 1 month;
*Quantity Surveyors Report is now only required for projects exceeding $30,000(US$15,000);
 
Lease Arrangements:
 
*Members who have unregistered leases (Agreement for Lease; Instrument of Tenancy; Approval Notice for Lease) can access housing assistance and;
*They can purchase vacant land from TLTB or Ministry of Lands or purchase from a vendor and to survey or/and build;
* The $218 (US$105) TLTB surveying fee can be paid with the premium or included as part of the surveyor’s cost;
*Agricultural Lease term of at least 10 years, can be assisted;
 
Village Housing:
 
* Members can access assistance for more than one house within the village boundary if they have sufficient funds from their General account
 
FULL WITHDRAWAL
 
Small Account:

 
Members with less than $5,000 can withdraw their funds if they are:
 
*over 50 years old;
*have been unemployed for more than 3 years;
 
Medical Incapacitation:
 
*Medical Board is now required to meet once every fortnight to assess cases:
* Board membership has been increased from 3 to 8 with a quorum requirement of 3;
 
PROCESSING FEES

 
Fees for partial/early withdrawals ($10), quick repairs ($50); housing ($100) can be paid for the following:
 
*Deducted from member’s balance;
*Part cash and part deduction from member’s balance;
*Cash.

SOURCE: NEWSWIRE/PACNEWS


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