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. |