June 28, 2011 Leave a comment
A pensioner and the managing director of the Credit Corporation company, Ross Mc Donald, has written to the FNPF board asking why the Mercer Actuarial Report has not been released for scrutiny and comment. This is the report that the FNPF has cited in announcing their intention to cut pensions.
According to McDonald, “it appears Mercers have used Australian life expectancy tables rather than those for Fiji, thus giving longer life expectancy to Fiji pensioners and members when in fact it is less, thus increasing the liability for pensions”.
With all the health spending cuts since 2006 life expectancy has gone backwards in Fiji, so why can’t we see what assumptions the Mercer Report used?