Actuarial interest and factor

The actuarial interest represents the value of the member’s “share” in GEPF, based mainly on age, years of service and final salary. The actuarial interest is calculated using a formula with a factor determined by the actuary and approved by GEPF’s Board.

Adopted child

This is a child who the member legally adopts in terms of the Child Care Act, 1983.


This is the income you receive every month from GEPF when you retire. It is paid in equal monthly instalments on or before the last or first day of each month.

Approved retirement fund

This is important if you are planning to resign and want to transfer your resignation benefit to another fund. GEPF will only allow you to transfer your money to an approved fund, meaning a fund that has been registered in terms of the Pension Funds Act, 1956, and approved in terms of the Income Tax Act, 1962.


The person or people entitled to a lump sum payment (gratuity) when a GEPF member dies. The member nominates beneficiaries by completing a Nomination of Beneficiaries form (WP1002).

Defined contribution pension fund

This is a fund where the benefits are based on how much the member and employer have contributed over the years. This is different from GEPF, which is a defined benefit fund.

Defined benefit pension fund

In this type of pension fund, the benefits are defined in the rules of the fund. The benefits are guaranteed and do not depend on how much the member and employer have contributed. GEPF is a defined benefit fund.

Disabled child

This refers to a child who is financially dependent on the member because of a permanent physical or mental disability.

Eligible child

this is a child who is entitled to receive certain benefits when a GEPF member dies. An eligible child is the natural or legally adopted child of a member:

·       Under the age of 18;
·       Under the age of 22 and a full-time student;
·       Over the age of 18 and disabled and factually dependant; and/or
·       A stillborn child.

Eligible orphan

This is a child who has been orphaned after the death of:

  • A member;
  • The spouse of a deceased member;
  • A pensioner who retired on or after 1 December 2002; or
  • The spouse of a pensioner who retired on or after 1 December 2002.

Final salary

Most of the benefits that GEPF pays take into account the final salary that the member earns. The final salary is the average salary you received in your last 24 months of pensionable service. It includes pensionable allowances that you received during your last 24 months, such as your annual service bonus.

Full potential service

This is the pensionable service of a member who dies while still working for the government. It includes the actual number of years of pensionable service worked plus the number of years left until the person would have retired. Let’s take the example of a member who dies at the age of 46 after 20 years of pensionable service. This person’s pensionable service would work out to 34 years, consisting of 20 years plus 14 years (the time left until the person’s 60th birthday).

Funding level

This is the ratio between what GEPF owes (its liabilities) and what it owns (assets). If the funding level is 100%, it means the Fund has enough assets to cover all its liabilities in full.


This refers to the Government Employees Pension Fund.


Government Employees Pension Fund


A lump sum paid when the member leaves government employment.

Pension retirement date

The date on which a member becomes eligible to go on pension. The date is specified in the conditions of service and is usually the date of the member’s 60thbirthday.

Pensionable salary

The member’s basic annual salary plus any allowances that are recognised as pensionable. An example of a pensionable allowance is your annual service bonus.

Pensionable service

The number of years and parts of a year that the member has been contributing to GEPF. It includes any service that you purchase but excludes periods of leave taken without pay (unless you purchase these periods back).


Usually known as a husband or wife, this is the person a member is married to or has a life partnership with.

Stillborn child

As defined by the Births and Deaths Registration Act, 1992, this is a member or pensioner’s natural child who is:

  • Born after 26 weeks of pregnancy, and
  • Shows no sign of life.

The definition excludes any termination of pregnancy that was self-inflicted as per the Choice on Termination of Pregnancy Act, 1996.

Service periods

This is the date on which you started working for your department. Please ask your department to confirm that your service date is correct because the correct date is of great importance when you resign, retire, are discharged or die. If your service date is not correct, request your department to forward an Admission to Fund form (Z125) to GEPF as soon as possible.

Unexpired period of service

This is the number of years between the member’s age on leaving the Fund and the date of retirement. For example: if you resign from government at the age of 35, there are still 25 years until you retire at the age of 60. Your unexpired service will be 60 – 35 = 25 years.