VANUATU RETIREMENT FUND PAYMENTS TO CONTINUE

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PORT VILA, Vanuatu (February 10, 1998 - PACNEWS)---The Acting General Manager of the Vanuatu National Provident Fund (VNPF), Joses Kenneth, says payment of retirement contributions to eligible members will continue after the Vanuatu state of emergency ends at midnight tonight.

So far, Kenneth says, 600 million vatu ($US 4.8 million) have been paid out to about 3,000 fund members. A total of 28,000 VNPF participants have applied to withdraw their contributions.

Meanwhile, Kenneth says new fund contributions due must continue to be paid into the fund or penalties will be levied. He warned that the VNPF will not hesitate to charge employers surcharges if payments arrive late.

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