Fiji National Provident Fund members,spouse,children and siblings can now access funds under the new Education Assistance Guidelines which has been review to assist members in attaining quality education.
Two significant value adding changes to the Fund’s education assistance policy are the increase of incidental expenses from$5,000 to$10,000 for the period of study overseas and the inclusion of$200per semester for text books for tertiary students.
Members like Joseva Raika plans to take advantage of the professional$200text book to assist him in purchasing his daughter’s textbooks this semester and is one of the few that has already submitted his early withdrawal application for assistance.
“FNPF has been assisting me to provide for my family and I am thankful to FNPF for continually making it easier for us members too obtain financial assistance for the purpose of education and the$200 provision for text books will certainly ease the financial burden for me in the beginning of this academic year,” he said.
The above are value adding changes to the current benefits under the Fund’s Education
Assistance scheme including;
- Local and overseas tuition amounts for year 13,tertiary studies including vocational courses for approved institutions only.
- Foundation level studies offered at high school.
- Tuition for students who attend special schools with a specialist report to confirm this.
- Tuition for courses that are examinable and may result in the attainment of an academic certificate.
- Assistance for accommodation for local studies with a provision of $2,500 per student per semester.
- Andbalanceoffeessubsidizedbygovernmentunderthefreeeducation,wherethenet amountcanbeassisted bytheFund.
FNPF Chief Executive,Mr Aisake Taito said the Fund is aware of the importance of investing into education,and it would ensure that members continue to access their funds in order for them to achieve their academic goals.
In the last financial year,FNPF approved more than 29,000 education assistance applications totaling$33.2million.
“Through education,members are able to upskill and upgrade their capabilities to attract better pay and in turn improve their standard of living,” Mr Taito said.
“In helping our members improve their standards of education,FNPF is also contributing to the
social and economic development of the country.”