Statement by the Government Employees Pension Fund on the suspension of PIC Officials

The Government Employees Pension Fund (GEPF) is extremely perturbed by the latest announcement by the Public Investment Corporation (PIC) that it has suspended its Executive Head of Listed Investments, Mr Fidelis Madavo and the Assistant Portfolio Manager, Mr Victor Seanie, following a preliminary investigation report that reflects the flouting of

GEPF change rules regarding pension debt on divorce

Following the gazetting of the Government Employees Pension Law Amendment Bill on 23rd May 2019, the Government Employees Pension Fund (GEPF) will, once the amended rules are implemented, no longer subject a member to a debt model in executing a divorce settlement. Instead the new amendment provides for the reduction

Government Employees Pension Fund pensioners will receive a 5.2% annual pension increase.

Government Employees Pension Fund (GEPF) announced today that an annual pension increase of 5.2% to its pensioners with effect from 1 April 2019.  The GEPF has granted this increase to enable pensioners to keep up with rises in inflation.  The pension increase is based on the 5.2% inflation rate for

Board Letter to GEPF Members and Pensioners About the PIC Inquiry

Dear Members / Pensioners  As many of you are aware, the Public Investment Corporation Inquiry established by President Mr Cyril Ramaphosa, to probe allegations of impropriety at the Public Investment Corporation (PIC) has begun.  The Government Employees Pension Fund (GEPF) supports the establishment of the inquiry as we believe it

ACTUARIAL INTEREST EXPLAINED

WHAT IS ACTUARIAL INTEREST? The GEPF is a Defined Benefit fund. The Rules of the Fund stipulate that the benefit payable to a member on retirement is based on his or her pensionable salary and years of membership in the Fund. The benefit payable is not related to the contributions

GEPF pensioners and members untouched by new tax regulations

The Government Employees Pension Fund (GEPF) assured its members and pensioners that the new Taxation Laws Amendment Actwill not affect their pensions or benefits. As a defined benefit pension fund, the benefits of the GEPF are already taken as one third lump sum gratuity and the two thirds is taken as

R10.5 billion financing injected towards affordable housing for government employees

PRETORIA -The Government Employees Pension Fund (GEPF) through its investment manager Public Investment Corporation (PIC) has announced an investment commitment of R10.5 billion into SA Home Loans (SAHL) to facilitate housing financing for qualifying government employees and members of the public.  The investment aims to provide government employees and qualifying

GEPF invests responsibly

GEPF exists to provide and pay benefits when due to public servants who are members as well as retirees. The GEPF would like to assure its members and pensioners that their pension benefits are safe. Members and pensioners are reminded that their benefits are paid in terms on the rules

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