27 February 2017
The Government Employees Pension Fund (GEPF) is proud to announce that the Board of Trustees has granted a 6.6% pension increase to pensioners with effect from 1 April 2017.
“The increase is equal to the year-on-year change in the consumer price index (CPI) for the year to 30 November 2016, and this attests to the Fund’s undertaking to ensure that pensioners retain their purchasing power,” says Principal Executive Officer, Abel Sithole.
“GEPF has been striving towards paying pension increases that are in line with inflation since inception, this confirms that the well-being of our pensioners remain a priority. The Fund is in a relatively good financial standing and, as per the GEPF Rules, the Fund will continue to pay pensions until a pensioner dies as well as spouse’s and an orphan’s pension where applicable, it does not matter how old they live to be”, adds Sithole. /ends
Note to editors
The GEPF is governed by the Government Employees Pension (GEP) Law of 1996, as amended, and the GEPF Rules that accompany it. The GEP Law and the GEPF Rules, along with GEPF's Pension Increase and Funding Level policies, give firm guidelines on how the Board of Trustees decide on the annual pension increase that is paid to pensioners.
Issued by Government Employees Pension Fund
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