FNPF URGES MEMBERS TO FILE MEMORANDUM OF ADMINISTRATION FORMS

The Fiji National Provident Fund has paid out over $4million under the Special Death
Benefit (SDB) funeral assistance since it was introduced in 2010. The SDB funeral
assistance allows members to allocate a maximum of $2000 from their SDB cover for
their own funeral expenses.

Fund Chief Executive, Mr Aisake Taito said FNPF has assisted 2035 deceased
members? relatives who have applied for the $2000 over the last 4 years.

?This is an assured $2000 assistance that your family members will receive to help with
funeral expenses given associated rites and obligations,? Mr Taito said.

Mr Taito said that it was important for members to name an executor to receive the
$2000 by completing and filing the Memorandum of Administration (MOA) forms with
FNPF.

?We will only pay the $2000 SDB funeral assistance to those listed by the member as
their executors in their completed MOA forms.

He confirmed that FNPF will not pay out the $2000 if the completed MOA are not filed.

Under the SDB, members qualify for $8,500 payout should they die before they fully
withdraw from FNPF. If the SDB funeral assistance is paid out to the member?s
executor, then the remaining $6,500 is deposited into members? account, before their
total balance is paid out to his/her nominees.

?The SDB Funeral Assistance is only for the deceased member?s funeral expenses and
cannot be accessed for any other expenses related to the member.?

Payment of the $2000 will only be made if the;
? deceased member is an eligible member of the Fund. ? SDB annual premium of $35 was deducted for the applicable Financial Year
? completed Memorandum of Administration was filed by the member.

The key requirements for MOA are:

  • member?s Birth Certificate
  • ?executor?s Birth Certificate (The birth certificates must be full extracts issued after?2000)

He clarified that the SDB Funeral Assistance is different from the Funeral Assistance
that members can also access for relatives who are non-FNPF members and for those
members who do not file their MOA forms. The maximum for this assistance is $1000
per death.

Mr Taito said other changes to members? benefits will be progressively announced in
the next few months.

 

MEDIA RELEASE.