Monday, July 18, 2011

Fiji President Lobbied as Fight Continues over Fiji's Pension Fund

Australia Network News - 18 July 2011

Fiji's president is receiving letters from pensioners, employers and employees calling on him to appoint a Commission of Enquiry into the country's pension fund.

Earlier this year, the financially troubled Fiji National Provident Fund put forward a plan that would see old age pensions cut by up to 64 per cent.The planned cut has angered pensioners, who have launched legal action in Fiji's High Court in an attempt to stop the Provident Fund from going ahead with it.On Monday afternoon, the High Court postponed its ruling on legal action taken by the government and the pension fund to strike out a the pensioners' challenge.

Over the weekend, the Provident Fund paid for newspaper advertisments claiming those opposing the cuts are a few self-interested individuals who are deliberately spreading false rumours.

The Provident Fund says the pension cuts will go ahead on September 1, with those below the the Basic Needs Poverty line exempt.Employers, pensioners and members of the Provident Fund have turned to President Ratu Epeli Nailatikau, calling on him to establish an Independent Commission of Inquiry into Fund mismanagement.

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