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Category Archives: Grey Power Editor

The Sick Joke is on The Pensioners

21 Wednesday Dec 2011

Posted by fijipensioners in Grey Power Editor, Letters

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What on earth are Fiji’s current FNPF pensioners to make of the inauguration of The Fiji National Policy on Ageing which was launched on the 19th December by the United Nations Population Fund Pacific sub-regional director Mr Dirk Jena? 

What are we to make of the reports on the launch in yesterday’s Sun and Fiji Times? Bizarre comes to mind and of course Ironic – but more to the point would be Sick Joke because 2012 has been declared the Year of the Ageing, and to commemorate this the government has decreed that many pensioners will be pushed into poverty.

What irony – we are the first country in the Pacific to launch a policy to safeguard the elderly while at the same time planning to cut the pensions of most of our current pensioners as a Year of the Ageing joke in March 2012. 

The 4 main ‘visions’ of the policy include ‘Recognition of the contribution of older people to the social, cultural, economic and political sectors of society’. It is a pity that the board of the FNPF does not agree.
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Simple Question for Tompkins and Rashbrooke

18 Sunday Dec 2011

Posted by fijipensioners in Grey Power Editor

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The simple question that Dr Shaista Shameem, counsel for Burness v FNPF and the AG has for Tompkins and Rashbrooke, upon reading the Fiji Times is this:

If, as Tompkins and Rashbrooke say, (1) FNPF pensions were ‘not contracts’ and (2) the FNPF pensioners were ‘winning at someone else’s expense‘ , why did the Government and FNPF (joined at the hip), and taking advice from the Solicitor General who is a party to the action, not allow the High Court to decide these legal questions? 

Surely these legal issues, since they have been challenged in the Burness case, can only be decided by a court of law? Why was there a need for FNPF and the Government to interfere with the independence of the judiciary by including section 11 (6) in Decree No 51? 

Dr Shameem is certain that neither Tomkins nor Rashbrooke (nor indeed the Solicitor General Christopher Pryde) would be allowed to get away with this type of blatant abuse of power in their own countries, namely Australia and New Zealand. Especially where a radical alternation in pension rights has been implemented without the due process of parliament. The NZ Law Society has already commented on Decree No 51 as purposely interfering with the power of a judge to decide a case already in the High Court. 

She says Tompkins, Rashbrooke and Pryde’s actions in discriminating against FNPF pensioners represent the worst form of neo-colonialism and export of neo-liberal market ideology to a Pacific Island nation.  Due to its political naiveté the Fiji Government has no idea what this new pension policy will mean for the people of Fiji in the long run. Aisake Taito’s lack of economic acumen is apparent every time he makes a press statement. 

Dr Shameem says the people of Fiji deserve better than carpetbaggers from Australia and New Zealand deciding their fate and they certainly deserve a lot better than Taito’s tight-shirted ‘attitude’ problem. 

Taito, where is the evidence?, copies of factual reports please.

15 Thursday Dec 2011

Posted by fijipensioners in Grey Power Editor

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What’s up with the FNPF now? Front page plus page 3 in the Fiji Times on Wednesday 14th, front page and page 3 again today, Thursday 15th. An we now have one Geoff Rashbrooke in the mix in addition to Shauna Tomkins and Stephen Mason. 

1: In Taito-speak we are told that the World Bank, the IMF and the Reserve Bank of Fiji ‘support’ the FNPF reforms. Unfortunately for the FNPF the Fiji Times reporter missed the underlying double-speak of the Taito-babble. 

2: On page one today, Ms Tomkins and Mr Rashbrooke are quoted thus…The reforms are comprehensive and address structure, solvency, refocus on retirement, prudential regulation, governance, greater independence from political interference and sound risk management. The reforms are robust and aim to avoid a repeat of current problems. 

This quote does not mention the arbitrary cutting of current pensions. It is concerned solely with the restructuring of the administration of the FNPF. It is obvious that ‘refocus on retirement’ refers to future pensioners. ‘Refocus on retirement’ cannot be interpreted to mean ‘focus on cutting current pensions. 

The IMF, World Bank and Reserve Bank of Fiji silence is equal to a screaming banshee. Where, in black and white, has one of these institutions declared that the arbitrary cutting of private contributory pensions is advisable? Nowhere. They haven’t and they won’t because the result would be uproar. 

Meanwhile, Tomkins, Rashbrooke and Mason can only stand aside while their words are mangled and misreported. Turn to page 3 to the last paragraph of today’s report. It states…”Pensioners are not being victimised although clearly some individuals will feel a greater financial impact than others”. This is reported as if a direct quote from Tomkins, Rashbrooke and Mason, and that is just too hard to believe they said that. 

Here’s more Taito-prattle. He says…Whilst we can only learn from our past, we should not dwell on it. Well, here’s a bit of Greypower logic for Taito – unless you dwell on your past you’ll learn nothing from it. Pensioners right now are certainly focussed on their past, many of them kicking themselves for not grabbing the lump sum and running with it. They are caught up in thoughts of ‘if only’.  

And he urges those ‘who might be affected to be selfless’. Taito-blab! It is not the pensioners who will need to be selfless – it is their children who will have to support them! Grandchildren? What should have gone towards their education and treats will now be spent on their grandparents; grandparents who are rightfully angry, resentful, and humiliated. 

All this Taito-gibbering in the Fiji Times does nothing but confirm that the FNPF board knows that it is WRONG – and several current pensioners, professional money-men, have the figures to prove that. So please, Taito and board, cut the crap? Don’t tell us again that pensions are being cut world-wide – we know they are – they are government pensions, not private pensions held in trust by a fund owned by its members. Stop telling us that you are being ‘fair to all’ because you are patently NOT. Stop telling us that we were enjoying ‘overly generous’ pensions as if you were doling out favours. 

Until the board goes public with concrete evidence that the IMF, the World Bank, the Reserve Bank of Fiji, and named ‘actuaries and legal experts’ did indeed advise the arbitrary cutting of current pensions, pensioners will not believe one word of Taito’s gibberish no matter how much he witters on.

Still No Sign of Dave

14 Wednesday Dec 2011

Posted by fijipensioners in Grey Power Editor

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Still no sign of Fast Talking High Flying Dave, but Pacific Sun has been using Air Pacific’s Boeing 737 aircraft to service the Nadi – Suva- Nadi route to transport passengers from Nadi to Nausori and back.

The question is what percentage of seats are filled each way, and how much money are we losing, by not using the ATR 42 or the Convair 


Misinformation, confusion, contradiction and delusion

13 Tuesday Dec 2011

Posted by fijipensioners in Grey Power Editor, Letters

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Since the tortuous FNPF reform began six months ago, the Fund’s CEO Mr Aisake Taito has shown himself to be a Grandmaster of misinformation, confusion and contradiction.

Many pensioners now take most of what he has to say on their FNPF payments and the Fund, with a ladle of salt. By a process of contagion, FNPF itself is also viewed with skepticism. It too cannot be trusted.

The plain truth is that neither management nor the board can get their story straight.

Let us relook at just two of Mr Taito’s recent assertions which reinforce perfectly his credibility problem.

In the light of these statements by Mr Taito, comments in the FNPF’s notorious and mean FNPF Transition Decree require very close scrutiny. Bear in mind these must have been approved by the board.

About two weeks ago Mr Taito said the FNPF was in crisis. Inexcusably Mr Taito did not spell out the precise nature of this. He left fund members to ponder nervously on his meaning. What was the danger? Was the FNPF unstable and ready to collapse? Had another of its investments failed, leading to a heavy loss? Perhaps he was referring to the FNPF’s decision to default on legally secured payments to pensioners? For that is certainly a crisis.

There was no clarification. The crisis evaporated and Mr Taito quickly moved on.

He then decided that the FNPF was acting from a position of strength. As Greybeard has said, this unmistakably projected the FNPF as well able to meet its commitments, including payment of existing contracted pensions. Indeed it has said on numerous occasions that it can continue as it is presently structured for another 40 to 45 years. By that time the pensioners whose lives are being violated and ripped apart now will have been with their Maker for a long time.

Now turn to part 2, clause 4 of the abhorrent Transition Decree. After stating that the current pension arrangements cannot be sustained, it says they “create funding shortfalls with the associated risk of insolvency.”

So the FNPF is taking us back into crisis mode. Mr Taito’s position of strength no longer applies.

The relevant wording of the Decree is in the present tense. That can only point to a clear and present danger of insolvency. For insolvency read bankrupt.

So FNPF where are we? Crisis and collapse or financial strength?

The overarching question is why we have to tolerate such patent inconsistencies from our pension fund, its management and board? This comes down to massive failure of corporate governance by an organisation which bizarrely holds itself up as a model for others. The FNPF is in a complete state of self-delusion. Now, that is a crisis along with the pension default.

_________

Where is the Golden Boy Dave ???

11 Sunday Dec 2011

Posted by fijipensioners in Grey Power Editor

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Has anyone seen Fast Talking High Flying Dave ?

The Christmas Season Chaos continues, today’s Air Pacific flight from Brisbane was delayed for 14 hours, yet there is no word from the CEO or his high powered USA management team, are they on their Christmas break already?.
Government has invested $23,000,000 of taxpayers money to attract tourists plus they have invested $200,000,000 of FNPF members money, we all expect and deserve better from Fast Talking High Flying Dave Pflieger.

The future tourist numbers to our country depend on Air Pacific giving the best possible levels of service, and it is just not happening.
Now is the time for the FNPF board who have invested enough of our money to purchase the airline outright, to demand action, or better still withdraw the loan facility.

Pensioners’ struggle against injustice, power and pitiless strength

11 Sunday Dec 2011

Posted by fijipensioners in Articles & Reports, Grey Power Editor

≈ 2 Comments

Is it any wonder that many of the innocent and anguished pensioners, who are being so ruthlessly selected for a reduction in income by the Fiji National Provident Fund, no longer trust the Fund?  They have lost confidence and trust in the FNPF Board chair, Ajith Kodagoda, and his fellow trustees Tom Rickets, Sashi Singh, Taito Waqa and Tevita Kuruvakadua.

These five must bear the very heavy burden of responsibility for the injustice the FNPF is now imposing on many of its middle and working class members.

The FNPF representative who has attracted most of the anger and despair of the pensioners is chief executive Aisake Taito. 

Mr Taito, as the public face and voice of the FNPF, is a catastrophe. His performances at meetings with the FNPF victims were marked by obvious impatience, evasions and arrogance. He contemptuously dismissed or ignored difficult questions and had the hide to remind frightened pensioners that they should not be “personal” about the FNPF’s plans.

Personal?  For God’s sake, of course it’s personal when your very own pension fund, that had promised your pension rate was for life, is getting ready to shaft you.  The shafting process goes right to the core of an elderly person’s life. In their autumn years their retirement plans, founded on their FNPF irrevocable pensions, are thrown into upheaval.

They face an immediate drop in their standard of living; it is harder for them to put food on the table, pay the bills, meet their medical expenses and their family responsibilities.  Those who have obligations to banks and other financial institutions based on their fixed and legally binding lifetime pensions, have been betrayed in a most cruel way.

When a despairing casualty told Mr Taito that he might now lose his home and that the Fund was “ruining our lives” the FNPF CEO appeared unmoved and unimpressed.  He showed not a shred of compassion. The complainant was merely told not to make the issue personal. Those in the audience heard this with disbelief. What sort of man was this?
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Our Airlines Golden Boy……….

10 Saturday Dec 2011

Posted by fijipensioners in Grey Power Editor

≈ 2 Comments

Air Pacific has chartered a Convair from Air Chatham of Tonga for an undisclosed period of time, because the two aircraft purchased by their expert expatriate management from USA  have had to be grounded as a result of undisclosed deficiencies, resulting in increased road transportation between Labasa and Savusavu since Pacific Sun are not currently flying to Savusavu.

On Friday December 9th Air Pacifics Hong Kong flight and Melbourne flights were cancelled, plus there were changes of aircraft for the Sydney flights causing more delays and disruptions.

Passengers scheduled to travel on FJ810 from Nadi to Los Angeles on Sunday, December 11, will now travel on Monday, December 12. “This is due to the delayed arrival of a Boeing 747-400 aircraft from routine ‘C’ check in Singapore,” said an airline statement. (This aircraft would qualify for an FNPF pension based on its age )

Air Pacific is also facing further problems as a result of mechanical problems on its only Boeing 767-300ER aircraft in Hong Kong, which is expected to delay a number of flights.

A statement by Air Pacific yesterday advised customers that because of the delayed departure of its B767 from Hong Kong to Nadi because of maintenance issues with a cargo door, several flights to New Zealand and Australia have been cancelled, rescheduled, or passengers re-accommodated on other airlines. “Flight 411 to Auckland was cancelled (yesterday) and those passengers flew to Auckland at midnight last night on a chartered Air New Zealand 777-300 aircraft. The chartered flight departed Auckland at 7:45pm yesterday evening, arrived at 10:45pm in Nadi and returned Auckland at midnight. Arriving Auckland at 04.00; such a nice time to start the day.

All of this spells Chaos for Christmas

Why should we the Greybeards and younger members be concerned?, Well Air Pacific was recently given $200,000,000 of our money.. Question is, why do they need the money now?, is it to secure the purchase of aircraft that Airbus are very anxious to sell, or is it to prop up the day to day expenditure of the airline?.

Fast talking high flying CEO Dave Pflieger has been in charge for well over a year together with a management team from the USA to support him, yet things seem to be going from bad to worse.

The latest song from the Airport Serenaders should be “Where have all the aircraft engineers gone”, or can we look forward to another dubious duet from the AG and his Golden High Flying Boy Dave..

It is little wonder that the Prime Ministers airline of choice is Korean Air

FNPF in Crisis, says Mr Taito December 1st, 2011

01 Thursday Dec 2011

Posted by fijipensioners in Grey Power Editor

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Suddenly the FNPP is in crisis. For months the Fund management has been assuring us that the FNPF is operating well and our money is safe. In October the FNPF reported strong results with a net surplus of $243 million. Assets were up and contributions to the FNPF were the highest in the Fund’s history. To add icing to our cake investment income grew steadily. We say “our cake” because the FNPF belongs to its members and pensioners are members. It does not belong to the Government.

So the Fund has presented a very positive picture and naturally we welcome this. But now, out of the blue, the FNPF CEO Mr Aisake Taito, is referring to the FNPF’s “current crisis”. This is extremely alarming. He made the comment in the Fiji Government’s propaganda rag, the Fiji Sun.

Mr Taito has never spoken in these terms before.

He did not spell out precisely what the crisis is. But with a financial institution like the FNPF a crisis usually relates to urgent money problems. So what are these pressing problems that have emerged so soon after the triumph of the recently declared surplus, improved assets, and record contributions? Has the FNPF unexpectedly moved into reverse?

Mr Taito should be asked about this at the current round of meetings.  For the sake of accountability and good corporate governance, Mr Taito should provide the details of the disaster that has struck the FNPF.

It cannot be about payment of current legally binding pensions because the Fund has said consistently that it can continue for another 40 to 45 years as it is presently organised.

Mr Taito should also stop spreading the false story that the many pensioners who are upset and angered by the FNPF’s insensitive and cruel handling of their monthly entitlements, are trying to stop the Fund’s reforms. Mr Taito knows very well that this is not true.

We are not fools. We understand the need for reform for future sustainability. But we do not accept that the reform should involve smashing current pension contracts .

About ninety percent of the 11000 pensioners are below the poverty line. We welcome the FNPF’s plans to “top up” their payments although these arrangements appear to be less than generous.

That leaves about 1200 of us who face the big chop. The majority of our group are from the working and middle classes, ordinary, hardworking citizens who have contributed to Fiji and continue to do so. We have also contributed to the FNPF and helped to subsidise other pensioners before we reached retirement age.

We do not deserve the hard-hearted and uncaring treatment dispensed to us by the management and board of the FNPF.

Shame on them, we say. A big shame on them.

The Element of FNPFBOARDIUM

27 Sunday Nov 2011

Posted by fijipensioners in Daily Humour, Grey Power Editor

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Oxford University researchers have discovered the heaviest element yet known to science. The new element, FNPFBOARDIUM (symbol=FnPf), has one neutron, 25 assistant neutrons, 88 deputy neutrons and 198 assistant deputy neutrons, giving it an atomic mass of 312.  These 312 particles are held together by forces called morons, which are surrounded by vast quantities of lepton-like particles called pillocks. 
Since FNPFBOARDIUM has no electrons, it is inert. However, it can be detected, because it impedes every reaction with which it comes into contact.

A tiny amount of FNPFBOARDIUM can cause a reaction that would normally take less than a second, to take from 4 days to 4 years to complete.

FNPFBOARDIUM has a normal half-life of 2 to 6 years. It does not decay, but instead undergoes a reorganisation in which a portion of the assistant neutrons and deputy neutrons exchange places.

In fact, FNPFBOARDIUM’S mass will actually increase over time, since each reorganisation will cause more morons to become neutrons, forming isodopes. This characteristic of moron promotion leads some scientists to believe that FNPFBOARDIUM is formed whenever morons reach a critical concentration.

This hypothetical quantity is referred to as a critical morass. When catalysed with money, FNPFBOARDIUM becomes Administratium (symbol=Ad), an element that radiates just as much energy as FNPFBOARDIUM, since it has half as many pillocks but twice as many morons. 

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