FNPF members can access up to $10K for micro business venture

Fiji’s National Provident Fund members between the ages of 50 and 54 whose livelihoods have been affected by COVID19 and who operate or are looking to set up a micro business venture can withdraw up to $10,000 from their general account.

Opening next Monday, members must have a minimum general account balance of $1,035 and have the required documents including business registration, certification permits as well as business plans.

Chief Executive Officer Viliame Vodonaivalu said this assistance is an extension of the Fund’s unemployment assistance.

“The impact of the pandemic has forced many members to seek income generating projects and this relief will definitely help our members who are nearing retirement to get the capital they need so they can continue to sustain themselves,” Vodonaivalu said.

These micro ventures should also be earning less than $50,000 a year.

Funds will be paid through two modes – directly to members or indirectly to an approved lender. Approved applications will be paid in two instalments and the second payment will only be released once acquittals are provided for the first payment.

Applications can be submitted on the myFNPF App for direct assistance or through approved lenders. The full list of requirements and conditions are available on the FNPF website and members can also contact us via telephone on 5857 or 3307811, email Information@fnpf.com.fj or the Fund’s social media pages.

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