The Senate wants to question the Executive Director of the Retirement Fund, Iaulualo Talia Faafetai, about reports circulating which raise doubt about the stability of the pension fund.
Senator Laolagi Vaeao said senators are hearing several reports indicating that the Retirement Fund has been impacted.
He never gave the source of the reports however its understood that he was referring to campaign ads on radio and newspaper by the Faoa and Sanitoa gubernatorial team about the use of Retirement Fund monuies to purchase ASEDA bonds.
The ads say that the Retirement Fund would be in jeopardy if local revenues are not enough to repay the bonds.
Laolagi said it’s best that the Senate call in Executive Director of the Retirement Fund Iaulualo to answer their questions concerning the information being aired and published about the Fund.
Senator Galeai Tuufuli also suggested that the Chairman of the Retirement Fund Board, Vaanatiu Iafeta Toafala, also appear at the same hearing.
But Senate President Gaoteote Palaie informed him that Vaanatiu is off island seeking medical treatment.
The Senate leader advised senators not to listen to unofficial reports or complaints that are coming through “the back door.”
He said acknowledgement of such reports lends credence to them and his advice was to disregard them.
Gaoteote said, “we place the burden on ourselves when we take notice of such back door reports.
“If we pay attention to them they become important. But if we disregard them nothing will happen.”
Nevertheless Gaoteote said since senators have brought up the issue it’s okay to have a hearing with the head of the Retirement Fund
Laolagi is calling in the Executive Director of the Fund, Iaulualo Talia Faafetai, for a hearing at 8:30 am next Monday.
