Kiribati Provident Fund Announced Payments of over $13m to Its Members...

The Kiribati Provident Fund, KPF has announced payments of over 13 million Australian dollars to its members for the financial year ending 31 March 2025.

The announcement came following KPF declaration of its annual interest rate of 5.85 percent, a rate above the statutory minimum, despite ongoing economic challenges.

In a Press Statement, the Board explained that the fund's overall investment performance was mixed over the year.

Global markets were hit by uncertainty stemming from new trade policies introduced by the United States Government, leading to weaker international returns.

However, the fund’s domestic investments performed strongly, particularly the small loan scheme, which exceeded expectations and helped strengthen the fund’s overall position.

The Board acknowledged the continued instability in the global economy, but reaffirmed its commitment to protecting members’ savings by declaring a competitive interest rate.

This move reflects KPF’s cautious but positive approach in the face of a shifting financial landscape.