A new multi-million-dollar retirement fund building was officially opened by His Majesty King Tupou VI on Friday 12.
The $8.1 million pa’anga three storey complex was the most modern building to be located on the corner of Mateialona Rd and Railway Rd in Nuku’alofa.
The Retirement Fund Board has locally invested $132.89 million pa’anga.
Last month the government’s board, which said it has 4864 member of public servants, urged its members to increase pay deduction for their retirement funds with an additional 15 percent voluntary contribution.
It said it has found its members were struggling to make ends meet.
The scheme allows the public servants to claim up to 50 percent of their retirement entitlement until the end of May to help them with their bank loans and school fees.
Last week’s opening ceremony was also attended by Her Majesty Queen Nanasipau’u, the Prime Minister of Tonga Hon ‘Akilisi Pohiva and some of his cabinet ministers.
Tonga’s retirement fund scheme was initiated in 1999.
