The more you, as a pensioner, know about your pension and other benefits, the greater the financial peace of mind you and your loved ones will be able to enjoy. The purpose of this set of Frequently Asked Questions is to assist you in learning as much as possible about the GEPF and your benefits.
Q: I am a GEPF pensioner and have been living in South Africa and now I am relocating overseas. How do I arrange to sign my pension Life Certificate while I am overseas?
A: Please notify the GEPF of your address change. In future, we'll send your Life Certificate to your overseas address. You can then complete the form as you would normally do and return the original to us. You could also fax a copy of the certificate to us before mailing it for your peace of mind.
Q: When I retired, I never received my unpaid leave owning to me from the GEPF. How do I go about claiming this benefit?
A: Please contact your employer as they deal with leave gratuities. These are not paid out simultaneously with your pension payout from the GEPF. The GEPF only handles pension-related matters.
Q: I retired six years ago and became a pensioner of the GEPF. I have never received any newsletters from the GEPF. Please inform me what the frequency of your newsletter is, as well as where I can obtain past copies from.
A: The GEPF pensioner newsletter (GEPF News) is published quarterly. You may request a copy of the newsletter from: Government Employees Pension Fund, Private Bag X09, Arcadia, Pretoria, 0007. You can also download the latest copy of GEPF News from this website.
Q: For the past few years I have received my pension at the Post Office. I need to change from the Post Office to a bank. How do I get my pension paid into my bank account?
A: First you need to open an account with any bank in your region. Then you need to complete a Z894 from (which is available from this website, or the GEPF can fax, mail or e-mail it to you) and send the original to us. We will then deposit your pension into your bank account every month.
Q: When I die, what should my spouse or beneficiaries do to claim benefits payable to them?
A: Your family must complete all necessary documents relating to the death of a pensioner. These forms are available on this website or they can be requested from the toll-free Call Centre (0800 117 669), and include the Spouse Application form (Z143).
Q: I have more than one pension number. Which number should I use for correspondence with the GEPF?
A: Contact your Human Resources department. They will raise the issue with the GEPF in order to rectify the problem.
Q: What is Actuarial Interest?
A: Actuarial Interest is the value of your accrued benefits in the Fund. It is calculated by means of various formulae. Please refer to your Member Guide booklet for the formulae and look out for future articles in our newsletters dealing with this issue.
Q: What is the difference between a pension fund and provident fund?
A: In a pension fund, at least two thirds of the final benefit must be paid as a pension for the rest of the pensioners’ life. A maximum of one third of the final benefit may be taken as a once-off lump-sum or cash payment. In a provident fund, the full amount of the benefit available at retirement may be taken as a lump-sum cash payment, irrespective of whether this benefit is calculated on a defined benefit or a defined contribution basis. The GEPF is a pension fund.
Q: What are the definitions of the words 'annuity' and 'gratuity'?
A: An annuity (or monthly pension) is an amount that is paid regularly, ie. monthly. A gratuity (or cash lump sum) is a single once-off payment of a benefit. Benefits from the GEPF take the form of an annuity or a gratuity or both.
Q: Please explain the difference between a defined benefit and defined contribution fund.
A: A defined benefit fund is a fund where the benefits are defined in terms of the rules. Benefits are generally guaranteed and are not dependent on the investment returns of the fund or on the level of employer contributions. The GEPF is a defined benefit fund. A defined contribution fund is a fund where the benefits are mainly based on the accumulation of contributions plus investment returns. Benefits are dependent on the level of returns therefore the member bears the risk of poor investment returns in such funds.
Q: If I die, how are my benefits distributed and how can I be sure that all my beneficiaries get their rightful share?
A: If you die, a once-off lump sum benefit will be divided between your nominated beneficiaries in the proportions indicated by yourself on your nomination of beneficiaries from (WP1002). In addition, a pension is payable to your spouse and not to the other nominated beneficiaries. It is therefore important to nominate beneficiaries and to keep your Nomination of Beneficiaries form (WP1002) up to date; this form is available on this website or from your Human Resources department. This ensures that the Trustees of the GEPF know who you would like to receive your death benefits.
Q: Who bears the cost of the newsletters and publications – is it the Pension Fund; and does this mean that we earn less interest?
A: The cost is recovered from the Fund. However, since this is a defined benefit type fund, your benefits are guaranteed and will in no way be affected by such costs.
Q: Has the GEPF performed worse than other retirement funds? Will this affect my benefits?
A: The GEPF has performed better than some and worse than others. The investment performance of the Fund does not, however, affect your benefits. Your benefits are defined in terms of the rules of the fund. So even if the Fund performs very poorly, your benefits are guaranteed. Poor performance means that the employer has to contribute more and good performance means the employer has to contribute less. It is therefore the employer who should be concerned about the investment performance of the Fund.