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Fiji National Provident Fund (Budget Amendment) Act 2022

REPUBLIC OF FIJI


Fiji National Provident Fund (Budget Amendment) Act 2022


ACT NO. 42 OF 2022


I assent.

K. KUMAR
Chief Justice


[29 July 2022]


AN ACT


TO AMEND THE FIJI NATIONAL PROVIDENT FUND ACT 2011

ENACTED by the Parliament of the Republic of Fiji—

Short title and commencement

(1) This Act may be cited as the Fiji National Provident Fund (Budget Amendment) Act 2022.

(2) This Act comes into force on 1 August 2022 except for section 5 which comes into force on 1 November 2022 and sections 3 and 4 which come into force on 1 January 2023.

(3) In this Act, the Fiji National Provident Fund Act 2011 is referred to as the “Principal Act”.

Section 36 amended

Section 36 of the Principal Act is amended by—

(a) after subsection (4), inserting the following new subsection—
(b) in subsection (6)—

Section 40A amended

Section 40A of the Principal Act is amended by—

(a) in subsection (1), deleting “1 January 2022 to 31 December 2022” and substituting “1 January 2023 to 31 December 2023”; and
(b) in subsection (2)—

Section 40B amended

Section 40B(4) of the Principal Act is amended by deleting “12%” and substituting “14%”.

Section 56 amended

Section 56 of the Principal Act is amended by deleting subsection (4) and substituting the following—

“(4) A nominee’s right for an option under subsection (2)(aa) and (c) is only effective if only one person is nominated by the deceased FNPF member.”.

Consequential amendment

Section 10(b) of the Fiji National Provident Fund (Budget Amendment) Act 2020 is deleted.


Passed by the Parliament of the Republic of Fiji this 29th day of July 2022.


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