The CEO of the Fiji National Provident Fund, Jaoji Koroi says under their existing housing withdrawal policy, members can access their General Account to reduce or pay off their home loan, provided their funds will reduce the debt by at least 15%.
He says this has been accessed by many members over the years.
Koroi confirms the Fund is in the process of reviewing the home loan repayment option, in light of the economic hardships that many members are facing due to COVID-19.
Koroi says they will make necessary announcements once a decision is finalised.
He adds in the last few months, housing withdrawals have tripled compared to last year and this is a good indication that it’s responding effectively to members’ needs.
