Hostage incident at GEPF eThekwini Regional Office

Date: 10 June 2021

Pretoria – Government Employees Pension Fund (GEPF) is aware of reports of a hostage incident at its eThekwini regional office. We have been informed that an aggrieved GEPF client held officials of the Government Pension Administration Agency (GPAA) hostage at the office.

The GEPF has been informed that there was no harm to anyone. The member has been detained by the South African Police Services (SAPS) and remains in their custody.

The GEPF is appreciative of the efforts of the South African Police Service, office security personnel and employees in dealing with the incident. The necessary counselling will be provided to the affected officials.

The GEPF remains committed to engaging with its members with respect to any concerns they have.

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For more information, please contact:

Matau Molapo, Communications

T: +27 (0) 12 424 7315

M: +27 (0)79 1910 757

E: matau.molapo@gepf.co.za

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GEPF pensioners will receive a 3.2% annual pension increase as of 1 April 2021

Date: 15 March 2021

Pretoria – Government Employees Pension Fund (GEPF) announced today that an annual pension increase of 3.2% is to be provided to its pensioners with effect from 1 April 2021.

This pension increase is based on the 3.2% inflation rate for the 12 months ending 30 November 2020, in line with policy and past practice, thus making the increase equal to 100% of Consumer Price Index (CPI) and higher than the 75% of CPI provided in terms of GEP Law and Rules.

Pensioners who retired on or before 1 April 2020 will receive the full 3,2% increase as of 1 April 2021, while pensioners who retired after 1 April 2020 will have their pensions increased proportionally for each month of retirement between the date of retirement and 31 March 2021, with effect from 1 April 2021.

It must be noted that increases such as this increase which is above what is provided for in GEP Law and Rules are granted at the discretion of the Board of Trustees of the GEPF taking the Fund’s investment performance into account.

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Note to Editors

GEPF is governed by the Government Employees Pension (GEP) Law of 1996, as amended, and the rules that accompany it. These rules, along with GEPF’s Pension Increase and Funding Level policies, give firm guidelines on how the Fund must decide the annual increase that is paid to pensioners. These documents state that GEPF’s Board of Trustees may approve a pension increase after consideration was given to the financial conditions of the Fund and the effect of the proposed increases on the Fund.

This minimum funding level states that the Fund’s assets must be able to cover at least 90% of its liabilities. This means that what the Fund owns (its assets) must be able to cover the cost of at least 90% of what it owes in terms of the current and future pension payments that it is committed to pay (its liabilities). According to the rules, the Fund may thus only approve an increase that it can afford.

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Government Employees Pension Fund Stakeholder Perception Survey

NOTICE TO:

Members, Pensioners and beneficiaries

We at the Government Employees Pension Fund (GEPF) are constantly striving to improve the level of service that we provide to our stakeholders. To arrive at a deeper understanding of the needs of our stakeholders, we have commissioned AfricaScope South Africa to undertake a comprehensive perception survey within our stakeholder group.

The focus of the survey will be to ascertain our stakeholder perceptions of the GEPF by means of telephonic and/or online questionnaires. The results of the survey will assist the GEPF in its efforts to be more efficient and effective.

AfricaScope will be drawing a completely random sample of individuals from out datasets. We wish to stress that the process is completely scientific and random and in no way targets any particular individuals or groups of individuals. Under their code of professional ethics, they may not divulge to GEPF any personal details of any participating individual and therefore you can be assured that any responses you provide will be totally anonymous.

If you are selected to participate in the survey, we respectfully urge you to please participate and to give your honest answers to the questions asked. In that way we at GEPF will be able to fully understand the needs and wishes of our valued stakeholders.

The survey began during the month of February and is currently in an advanced planning stage. AfricaScope will be contacting the first respondents within the next weeks.

You will be given the choice of completing the survey telephonically or on-line.

Thank you

Issued by the:

Government Employees Pension Fund (GEPF)

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GEPF mourns the death of trustees

Date: 03 March 2021

The Government Employees Pension Fund (GEPF) is shocked and saddened by the passing of longtime board member Dr. Frans le Roux on 2 March 2021 and substitute trustee Corporal Thobile Maqhubela on the 18th February 2021.

Dr. Le Roux served as a pensioner-elected trustee on the GEPF Board as well as a member of the Benefits and Administration Committee and the Investment Committee.

Corporal Thobile Maqhubela, who was an employee – nominate substitute trustee served on the Benefits and Administration Committee and the Finance and Audit Committee.

GEPF Chairperson of the Board, Dr Renosi Mokate, on behalf of the Board and staff members passes her deepest condolences to the Le Roux and Maqhubela families, their colleagues and friends.

The GEPF acknowledges the dedication, diligence and professionalism with which both trustees served the Fund. The Fund will forever be grateful for their tireless contribution and dedication to its members, pensioners and beneficiaries.

May their souls Rest in Peace.

Issued by:

Government Employees Pension Fund

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GEPF mourns the passing of two Board Members

Date: 05 January 2021

The Government Employees Pension Fund (GEPF) is shocked and saddened by the passing of two of its Board Members, Mr Alan Thompson and Dr Lese Matlhape on 04 January 2021.

Dr Lese Matlhape served as a specialist trustee on the Remuneration Committee since 2015 while Mr Alan Thompson served as a Trustee on the Board as well as a member of the Finance and Audit Committee and the Benefits and Administration Committee from 2018.

GEPF Chairperson of the Board, Dr Renosi Mokate, on behalf of the Board and staff members passes her deepest condolences to the Thompson and Matlhape families, their colleagues and friends.

The GEPF acknowledges the dedication, diligence and professionalism with which the two Trustees served the Fund. The Fund will forever be grateful for their selflessness and dedication to its members, pensioners and beneficiaries.

May their souls Rest in Peace.

Issued by:

Government Employees Pension Fund

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Africa’s largest pension fund appoints new Principal Executive Officer

Pretoria, Monday 26 October 2020

The Government Employees Pension Fund (GEPF) is pleased to announce the appointment of Mr. Musa Mabesa as its new Principal Executive Officer (PEO).

Mr. Mabesa is currently the Acting Principal Executive Officer at the GEPF, having previously occupied the position of Head: Corporate Services at the GEPF.

Commenting on the appointment, the GEPF Chairperson, Dr. Renosi Mokate said, “We are pleased that following an extensive process during which an impressive list of talented candidates were interviewed, the Board has selected Mr. Mabesa as Principal Executive Officer. Mr. Mabesa is a high caliber leader with the necessary skills as well as the requisite strategic and operational knowledge of the GEPF and the pension and investment industry. We are confident that together with the current Executive team he will be able to successfully implement the strategic vision of the Board.”

Mr. Mabesa says he is deeply humbled by the opportunity given to him by the GEPF Board to lead Africa’s largest pension fund. “I look forward to working with the GEPF team and all our stakeholders as we continue to ensure that the GEPF meets its obligation to protect the retirement benefits of its members and pensioners through proper administration and prudent investment during the tough economic climate that South Africa and the world is facing. It is a privilege to have the opportunity to lead one of the world’s top pension funds. There is no doubt that the challenge is huge.”

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Issued by Government Employees Pension Fund

For more information, please contact:
Matau Molapo, Communications division
T: +27 (0) 12 424 7315
M: +27 (0)79 1910 757
E: Matau.molapo@gepf.co.za

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GEPF Chairperson Refutes Holomisa Allegations

Pretoria, Thursday 18 June 2020
The Government Employees Pension Fund (GEPF) and its Chairperson, Dr Renosi Mokate, notes with deep concern the false allegations by General Bantu Holomisa to President Ramaphosa stating that Dr Mokate is allegedly part of a group of individuals that have looted state resources by having easy access to PIC and DBSA funds.
Dr Mokate refutes these allegations as unsubstantiated, irresponsible, mischievous and unlawful and as such will be seeking a retraction and removal of the letter from the said website and all other platforms. These allegations are a blatant misrepresentations of facts which cast aspersions on her integrity and character.
The GEPF and Dr Mokate are currently consulting lawyers and will take whatever action is required to clear their good names and reputations. Dr Mokate is not a director of Poseidon Pty Ltd, as alleged by Mr Holomisa, and never has been.
/Ends
Issued by Government Employees Pension Fund
For more information please contact:
Matau Molapo, Communications division
T: +27 (0) 12 424 7315
M: +27 (0)79 1910 757
E: Matau.molapo@gepf.co.za
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GEPF congratulates Abel Sithole on his appointment

28 May 2020
The Government Employees Pension Fund welcomes the appointment of Mr Abel Sithole as the new Chief Executive Officer of the Public Investment Corporation (PIC).
The GEPF chairperson, Dr Renosi Mokate, on behalf of the GEPF Board of Trustees and its employees congratulates Mr Sithole on his appointment and wishes him well at the PIC.
“We thank Abel for his hard work and dedication to the Fund and its stakeholders. He brought stability and direction to the GEPF at the time when stability was needed and we are assured that he will do the same at the PIC. This is not a goodbye but see you later, said Dr Mokate.
Referring to his appointment, Mr Sithole said, “I am honored to have served the GEPF and leave behind a strong organization and a great team which I had the privilege to lead.” The GEPF will in due course announce the process it will undertake to appoint its next Principal Executive Officer.
/Ends
Issued by Government Employees Pension Fund
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GEPF to take action following report of the Judicial Commission of Inquiry into Allegations of Impropriety at the Public Investment Corporation

30 March 2020

The Board of the Government Employees Pension Fund (GEPF) welcomes the findings and recommendations in the Report of the Judicial Commission of Inquiry into Allegations of Impropriety at the Public Investment Corporation (Commission).

The Board supports the President Cyril Ramaphosa, who, on releasing the Commission’s report, indicated that in keeping with the recommendations in the report he would be forwarding it to the National Prosecuting Authority and all relevant regulatory authorities for their consideration and appropriate action.

The Board is encouraged by the media statement issued by the Public Investment Corporation (PIC) on the 20 March 2020 with respect to the actions it will be taking in response to the Commission’s report, including action initiated against named individuals and organisations. The GEPF looks forward to being regularly briefed by the PIC as it deals with the various recommendations in the report.

Although the Commission’s terms of reference did not include the GEPF, the GEPF will pay careful attention to and follow up on the Commission’s recommendations specific to it and the PIC. It will cooperate with the National Treasury which has been tasked with oversight in addressing the Commission’s findings and recommendations.

The Executive Committees of the GEPF and PIC, led by the Principal Executive Officer and Acting Chief Executive respectively, overseen by the respective Boards, are already engaged in the reviewing the agreements, policies, mandates, procedures, processes, benchmarks and fee structures that govern the relationship between them as well as addressing areas where the relationship has been eroded.

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Coronavirus (COVID-19) Message

26 March 2020

26 March 2020

Dear GEPF Member

As a result of the national lockdown announced by President Ramaphosa on the 23 March 2020 all GEPF offices will be closed from the 26 March 2020. We expect to reopen offices on the 17 April 2020 subject to no further lockdowns.

The GEPF’s priority in this regard is the health and welfare of our employees, clients and business partners.  It is important that we all commit to implementing the lockdown as required by Government in order to help curb the spread of the virus.

Communication with the GEPF during this period will be via email at enquiries@gepf.co.za

We would further like to encourage our members, pensioners and beneficiaries to comply with the guidelines aimed at protecting themselves and others which include amongst others:

  • Wash your hands frequently with soap and water for at least 20 seconds after going to the bathroom, before eating, after blowing your nose, coughing or sneezing
  • If soap and water are not readily available, use a hand sanitizer with 60% alcohol to clean your hands
  • Avoid close contact with anybody who is sick, maintaining a distance of at least one meter between yourself and the sick person
  • Avoid touching your eyes, nose and mouth
  • Cover sneezes or coughs with a tissue and dispose of the tissue safely afterwards
  • Clean and disinfect frequently touched objects and surfaces
  • It is recommended that only infected persons wear masks to avoid spreading the virus

We want to reassure all members, pensioners and beneficiaries that despite the decline on the global equity markets, the GEPF is financially sound. More importantly, as a defined benefit fund, benefits provided by the fund are not dependent on the performance of the fund’s investments.  Your benefit is determined by the number of pensionable service years and your average salary in the last 24 months of your pensionable salary.

Keep healthy and be assured that your benefits are secure.

Kind regards

Abel Sithole

Principal Executive Officer

 

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