Date: 02 March 2020
Pretoria – Government Employees Pension Fund (GEPF) announced today that an annual pension increase of 3.6% to its pensioners will effect from 1 April 2020.
Pensioners who retired on or before 1 April 2019 are to be increased with a total increase equal to 100% CPI which is 3.6% over the year to the previous 30 November with effect from 1 April 2020.
Pensioners who retired after 1 April 2019 are to be increased proportionally for each month of retirement between the date of retirement and 31 March 2020, with effect from 1 April 2020.
This pension increase is based on the 3.6% inflation rate for the 12 months ending 30 November 2019 thus making the increase equal to 100% of Consumer Price Index (CPI) and higher than the 75% of Consumer Price Index (CPI) provided in terms of GEP Law and Rules.
The GEPF has granted this increase to enable pensioners to keep up with rises in inflation.
It must be noted that increases which are above what is provided for in GEP Law and Rules is granted at the discretion of the Board taking the Fund’s investment performance into account.
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For more information please contact:
Call Centre: 0800 117 669 Email:
enquiries@gepf.co.za
Twitter: @GEPF_SA
