The Government Employees Pension Fund (GEPF) plays a pivotal role in securing the retirement and financial future of South Africa’s government employees. As the largest pension fund in South Africa and one of the largest in Africa and globally, GEPF offers a comprehensive range of benefits to its members, ensuring that their years of service are rewarded with financial stability.
- Can I check my GEPF balance online?
- Who can claim from GEPF?
- Can I withdraw money from GEPF?
- How can I check how much money I have in my pension?
- Does gepf have a WhatsApp number?
What is GEPF?
The GEPF is a defined benefit pension fund, which means that the benefits offered to members are guaranteed. This provides peace of mind to more than 1.26 million active members and approximately 524,030 pensioners. Established in 1996, GEPF manages pensions and related benefits for employees of the South African government, across more than 325 government departments.
Key Facts About GEPF
- Established: May 1996
- Nature of Fund: Defined benefit pension fund
- Membership: More than 1.267 million active members and about 524,030 pensioners
- Assets Under Management: R2.27 trillion (as of 31 March 2023)
- Funding Level: 110.1% based on the actuarial valuation conducted as of March 2021
Benefits Offered by GEPF
GEPF offers a wide range of benefits that cater to different life events, ensuring that its members and their families are taken care of in times of need. These benefits include:
1. Withdrawal Benefits
If you leave government employment before retirement age, GEPF provides a withdrawal benefit, ensuring that your contributions are not lost.
2. Retirement Benefits
Upon retirement, members are guaranteed a pension for life, which is calculated based on their years of service and final salary. GEPF ensures that retirees receive a reliable income for the rest of their lives.
3. Ill-Health or Disability Benefits
In the event of permanent disability or ill-health that prevents members from continuing their government employment, GEPF provides an ill-health or disability benefit. This helps members maintain financial stability even if they cannot work.
4. Death Benefits
In the unfortunate event of a member’s death, GEPF provides a death benefit to the beneficiaries or dependents of the deceased. This ensures that family members are financially supported after the loss of a loved one.
How is GEPF Managed?
GEPF is governed by the Government Employees Pension Law (GEP Law) of 1996, and its operations are overseen by a Board of Trustees. The board includes equal representation from both employer and member representatives, ensuring that all stakeholders have a voice in the management of the fund.
Administration and Investments
- Administration: Day-to-day administration of the fund has been outsourced to the Government Pensions Administrative Agency (GPAA).
- Investments: The Public Investment Corporation (PIC) is responsible for managing the investments of the fund, ensuring its long-term growth and sustainability.
GEPF’s Financial Strength
With assets worth R2.27 trillion and a funding level of 110.1%, GEPF is one of the most financially secure pension funds in the world. The fund’s investment strategy, managed by PIC, ensures that it can meet all its obligations to members and beneficiaries. This robust financial standing means that GEPF can continue to provide guaranteed benefits to its members, regardless of economic fluctuations.
GEPF’s Geographical Reach
GEPF’s services are accessible across all nine provinces of South Africa. The fund operates Client Walk-in Centres in various locations, ensuring that members can easily access assistance and information.
How to Contact GEPF
For any inquiries or assistance, GEPF can be contacted through various channels:
- Toll-free Number: 0800 117 669
- Fax: 012 326 2507
- Email: enquiries@gepf.co.za
- Postal Address:
GEPF Private Bag X63,
Pretoria,
0001