Oceania [Fiji], March 17: Sugarcane farmers will now be able to voluntarily contribute to their Fiji National Provident Fund accounts through deductions from their cane proceeds.
FNPF and the Sugar Cane Growers Fund have signed a Memorandum of Understanding to introduce a voluntary superannuation savings scheme
SCGF Chief Executive Raj Sharma described the partnership as a milestone for the organisation and for growers.
Sharma says out of our 4,301 SCGF customers, 1,248 are already members of FNPF.
He adds that this scheme will further assist growers to save while benefiting from the strong returns provided by the Fund.
Sharma highlighted that the scheme will be entirely voluntary and contributions will be deducted from growers' share of cane proceeds after loan repayments are made.
Sharma added that the scheme will only apply to growers whose accounts are not in default and is expected to be rolled out by the end of the month with the next cane payment.
FNPF General Manager Member Services Alipate Waqairawai says the collaboration aligns with the Fund's long-standing mandate of helping Fijians accumulate retirement savings and providing financial support after retirement.
Source: Fijian Broadcasting Cooperation
