IN 2010, the FNPF announced a review of pension provisions which when implemented in 2012 led to pensions being reduced by up to 51.13 per cent causing severe financial hardship and distress to pensioners. In fact, a number were pushed below the poverty level.
What happened to these pensioners was a cruel and bitter experience.
Many believe that in proceeding with its changes, the FNPF:
* did not recognise the binding obligations that existed between pensioners and FNPF for payment of pensions. This had been recognised by FNPF when pensions were first reduced in 1995;
* claimed without any proven financial justification that the level of pensions being paid in 2012 by FNPF was unsustainable;
* did not implement the provisions of the FNPF Act Cap 219, Section 10 that if the FNPF is short of funds to pay pensions the government would provide these and government should be paid back as soon as practicable;
* would not enter into any discussion concerning the FNPF pension buffer reserve and why this had not been credited with interest since 1975 that would have provided some $860m for the payment of pensions;
* did not understand that the FNPF financial model was designed to provide for a steady and reasonable reduction in pension rates to ensure the long term stability of the fund. The reduction in maximum pensions from 25 per cent to 15 per cent in 1995 was the first step in this process;
* failed to either respond, or have the courtesy to acknowledge, the many emails, faxes and letters forwarded by aggrieved pensioners to FNPF protesting at the changes;
* ignored their consultant’s advice (promontory) to honour existing pension contracts by allocating sufficient assets to provide for the continued payment of pensions at the then existing levels;
* would not engage in any meaningful dialogue either publicly or in private to enable pensioners to have a fair hearing and question the merit of FNPF claims; and
* may not have understood that the changes when implemented would create financial hardship and distress for many elderly pensioners that has sadly proven correct.
Pensioners were also denied natural justice and the right to seek redress regarding the changes through the courts by Decree No 51 of 2011 that provided that there could be no court challenge to the changes and which has stalled a case brought by aggrieved pensioner David Burness .
Readers should refer to fijipensioners.com for further financial details and comment.
Click here: SubmissionAug2014FinalAtt
It is reasonable to suggest that affected pensioners will expect the new incoming democratically elected government to have a commission of enquiry into the FNPF, with terms of reference and power to enquire into the FNPF and to restore pensions to previous levels, and investigate the utilisation of the Pension Buffer Reserve.
RG McDonald, Pensioner, Suva
The following submission is to our present Prime Minister, will he read it?, it will take about 30 minutes of his valuable time.
Will any of the aspiring politicians read it ? only time will tell.
Click on the following link to get the true facts of the FNPF pension saga
Can this man not do simple math?
Attar Singh then said that they will only reduce VAT and are not talking about increasing other taxes.
Another proposed candidate for NFP, Pramod Rae also said that there will be no need to increase any tax as there will be more revenue generated by reducing VAT.
Rae believes that people will spend more.
THE SIMPLE FACT IS THAT PEOPLE WOULD HAVE TO SPEND 34% MORE THAN THEY ARE SPENDING NOW, AND THEY JUST DO NOT HAVE THE MONEY TO SPEND.
HAS THIS IDIOT NOT NOTICED THE INCREASING NUMBERS LIVING IN POVERTY, A 33% REDUCTION IN VAT IS NOT A 33% REDUCTION IN COST,,, WHAT A CLOWN..DO WE NEED PEOPLE LIKE THIS GOVERNING FIJI.??
REMEMBER THIS WHEN YOU VOTE
A touching one minute tribute to a man who brought a great deal of happiness to many:
Check out this article which states that Scientists at the University of Southampton have helped create a technique that can cause cancer cells to self-destruct
YOU WILL BE MISSED
The following link for the browser is not for those who do not accept the “F” Word, but the majority of golfers may enjoy it.
Paste this in your browser: https://www.youtube.com/watch?v=pcnFbCCgTo4
A great many disappointed subscribers to Sky Pacific pay TV, think he is acting like one.. just check out the following links to see what they are saying.
Harry Pal The reality is the Board of Fiji TV has made a mess of this situation. What a PR and publicity disaster? In today;s Fiji times, the Fox Network in their “Smart PR” have in their “smart way” are telling us ” They do not want to deal with wannabees who collectively cant run a PayTV business, from the Board to Management of Fiji TV.
Rahul Prasad You People are bloody money makers and nothing else.. Removing all the good channels with the crappy free to air channels? Where the hell did u do the customer feedback survey? were the customers even informed about this survey through any form of media?? I am a customer of Sky Pacific for the past so many years and all I get now is disappointment? Having to compromise with the television content I like? I will take this issue up to the consumer council. We will not tolerate this consumer exploitation !!!
Roneel Prakash For Television “CONTENT IS KING” and CONTENT MUST BE LEGALLY CLEARED FOR THE BROADCAST REGIONS THAT SKY PACIFIC COVERS. So you really think that the content on BBC, Nat Geo, Discovery, Home n Health, Star Plus and other were illegal……regions where sky pacific covers is the same island countries, its not that you live in a state where religious obligations ban the viewing of such channels……the way you are going….in the next “UPDATING PROCESS OF CHANNELS ON SKY PAC’ will see the free to air channels from the pacific islands that you and those who support you will see as conducive content……I CHALLENGE YOU……TAKE A REAL SURVEY……ONE WHERE YOU GET OFF YOUR SEATS AND APPROACH THE CUSTOMERS……then find out what we really think of your changes……as of this moment…….zero positive comment…….imagine what those who are not on FB would love to share one on one!!!! Where is the bloody Dislike icon/link on this Page……Shame i just had to lie to myself that i like the page…..just to bloody comment……Your choice of Entertainment idea abosolutly fill in the blank!!!!! Sky pacific is being a catalyst to the people of the islands suffering from depression…..nothing on tv that is good to come home to……I seriously wonder if FBC TV had entities to show more channels would cover……at the moment Bati ni Tanoa would out rate anything that SKY PATHETIC would have to show……once again these are my views and my suggestions………CONTENT IS KING……that coming from you guys doesnt suit………CONTENT is CARP(and you know there are more to this) is more like what you have made me to conclude!!!! Cant wait for EPL on FBC!!!!!
For Business THE CUSTOMER IS KING!!!! NOT your product. What business school did you go to?“Sky Pacific is confident that the new line-up is more entertaining”
What planet are you living on??? huh? Reading all the complaints about your “new line up” is more entertaing that your new programs.
“…a CHOICE TO BE ENTERTAINED, by a Pacific owned brand.”
You are kidding right? It was not your customers choice! Haven’t you heard anything your customers are saying the last few days? Or do you think if you bury yor head in the sand that it will all go away. Well somthing will go away YOUR CUSTOMERS!
“…will continue to bring the best available content to the Pacific”
What do you mean BEST AVAILABLE CONTENT. Do you seriously believe France 24 is better than the BBC? Bio is better than Discovery? They are just cheaper and far inferior and not worth paying for. And by “available” do you mean we have a choice? We have no choice. You are a monopoly.
AND MANY MANY MORE…. FEEL FREE TO ADD YOUR COMMENTS, WRITE TO THE CONSUMER COUNCIL, YOU HAVE A VOICE , USE IT