FINANCIAL FITNESS BY JESSIE TAYLOR
Government Employees Pension Fund:
Securing a new economic future
Start Investing Today Pension savings are essential to caring for the older population and reducing poverty levels in the country. But ensuring that public service employees have an income after retirement is just one of the key roles the Government Employees Pension Fund (GEPF) plays in the South African economy.
pensions and other benefits for government employees in South Africa under the Government Employees Pension Law (1996). The defined benefit fund was established in 1996. It is currently the largest pension fund in South Africa and one of the largest pension funds in Africa.
Aside from offering members an extensive range of benefits, the Fund is a significant investor and can drive economic and societal transformation.
The low level of pension savings results can be a burden for younger generations
A legacy of asset management The Government Employees Pension Fund (GEPF) is Africa’s largest pension fund, with more than 1.2 million active members. The Fund has around 450 000 pensioners and beneficiaries. The GEPF is mandated to manage and administer
The Fund has more than R1.8 trillion in assets under management and is the single largest investor in the Johannesburg Stock Exchangelisted (JSE) companies. The Fund works to give members, pensioners and beneficiaries peace of mind
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about their financial security after retirement. It does this by ensuring that all funds in its safekeeping are responsibly invested and accounted for and that the benefits due are paid efficiently, accurately and timeously. Changing society through investment The GEPF holds sway over South Africa’s long-term growth due to the size of the Fund and the investment potential that comes with that. The Fund is large by international comparison, with a significant membership, and manages funds equivalent to around a quarter of the country’s GPD. This creates vast investment potential, especially with the Fund moving away from investing in government bonds to a wel-diversified
