Talks to transfer lease monies
6 December, 2021, 9:30 pm
Discussions are ongoing between the Fiji National Provident Fund and the iTaukei Land Trust Board to consider transferring lease monies for young landowners from the banks to the fund.
Fund general manager member services Alipate Waqairawai shared this during a recent member forum in Lautoka.
Fund member Tevita Ratulevu said most iTaukei children in the West received lease monies at a young age which were usually kept in the bank and they could only access it when they turn 18.
“I really like the comment by the CEO that the FNPF is right now the best performing financial institution in Fiji,” Mr Ratulevu said.
“From a customer’s perspective, maybe we can have that funds transferred and be looked after by the FNPF instead of the bank.”
Mr Waqairawai said talks were still underway between the two institutions.
“In fact, one of our executives is also a board member of the TLTB and we are actually trying to get them to sort of see this as the best investment form for landowners, particularly for minor landowners,” he said.
“Discussions are still going on, we have not given up.”
Fund CEO Viliame Vodonaivalu said the main issue raised at the recent member forum in the Sugar City was unemployment, which was something they had expected because of the challenges brought about by the pandemic.
He said it was always advisable for people to learn and save and have a financial plan for themselves.