GEPF Company Profile

Established in 1996 through the consolidation of various funds, including the Government Service Pension Fund, the GEPF has approximately 1,14 million (2006: 1,08 million) contributing members and 303 977 (2006: 295 546) pensioners. It is a self-administered, defined benefit pension fund committed to effectively and efficiently providing benefits to members, pensioners and beneficiaries. It is also the largest pension fund in South Africa.

The Fund is managed by a Board consisting of equal employer and member representation including a pensioner representative, and a member employed by the South African National Defence Force, National Intelligence Agency and the South African Secret Service - each with an appointed substitute.

The GEPF’s core functions include member admissions, contribution collections, members roll maintenance, withdrawals (exits) and benefit payments, and the investment of all the Fund’s assets to match future liabilities. The GEPF administration also administers benefits on behalf of National Treasury, including medical subsidies special pensions, military pensions and other sundry benefits.

The Government-owned PIC manages the investments of the GEPF’s surplus funds, which comprise 92,3% (2006: 92,3%) of the total investments under the administration of the PIC.