227 FNPF members have over $500,000 in their accounts

Customers waiting to be served at the FNPF building in Suva on Saturday, February 29, 2020. Picture: JONACANI LALAKOBAU/FT FILE

The number of Fijians with balances in excess of $500,000 in their Fiji National Provident Fund accounts has increased to 227, from the 217 recorded in the 2019 annual report.

And the FNPF’s 2021 annual report says of the 227, 107 members were above the age of 55 years, 71 were aged between 50 and 54 years, 31 members between 45 and 49 years, and 18 are between 34 and 44 years.

The FNPF report said 836 members had balances between $250,000 and $500,000 compared with 796 in 2020. Of the 836, 272 members were between the ages of 50 and 54 years.

FNPF said a total of 7528 members had balances between $100,000 and $250,000 while 32,043 had balances between $40,000 and $100,000.

The fund said 46,508 members had balances between $20,000 and $40,000, and 112,516 members had balances between $5000 and $20,000.

The remaining 188,288 FNPF members had balances between $1 and $5000.

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