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Media Release
09 May 2024, Pretoria

In a significant move to bolster support for members, pensioners, and beneficiaries during times of bereavement, the GEPF is pleased to announce a 25% increase in the funeral benefits for members. The purpose of GEPF funeral benefits is to help pay the funeral costs when a member or pensioner passes away. Funeral benefits are also paid out on the death of the spouse, life partner or eligible child of a member or pensioner.

This increase is effective from 1 April 2024 and will be applied retrospectively. All deaths occurring from 1 April 2024, will be eligible for the enhanced benefits. Dependents whose loved ones passed away from this date onwards and have already received a payment will also be eligible for a top-up to the benefit previously paid.

The enhanced funeral benefits are as follows:

• Member or pensioner: R20 000
• Spouse of member or pensioner: R20 000
• Eligible child: R8 000 per child; and
• Stillborn child: R8 000 per stillborn.

Previously, the funeral benefits for a member and pensioner were R15 000 and R6 000 for children and stillborn respectively.

The GEPF acknowledges the cultural and social significance of funerals within many South African communities, recognising them as essential rites that allow families to honour their loved ones with dignity. Aware of the financial strain these ceremonies can place on families, amplified by current economic challenges, the GEPF has acted to ease the burden.

It is after due consideration of these factors that the GEPF Board of Trustees (BoT) has increased the payment values of the funeral benefits to provide further assistance to families of GEPF members, pensioners, and beneficiaries during their time of bereavement. The decision reflects a deep understanding of the members’ and beneficiaries’ needs during such vulnerable times. This adjustment is designed to provide substantial relief, helping families focus on healing rather than financial stress.

Importantly, the criteria regarding how members, pensioners and beneficiaries qualify to submit a claim and the associated procedures for the funeral benefits remains unchanged. Details regarding the qualification criteria and procedures are outlined in detail on the GEPF website on the following link, https://www.gepf.co.za/funeral-benefits/

The GEPF is confident that the enhancement of the funeral benefits will contribute to easing the financial and emotional pressures on families, ensuring loved ones are commemorated with the respect and dignity they deserve.

/Ends
Issued by Government Employees Pension Fund

Dear Members and Pensioners

Please be advised that the GEPF self-service portal and app remain offline due to the cyber security breaches that occurred at our administrator, the Government Pensions Administration Agency (GPAA) in February and March 2024. The GPAA has determined that a complete rebuild of these platforms is necessary to ensure a more robust platform.  The GPAA anticipates that these platforms will be operational by 21 June 2024.

Members and pensioners are requested to visit GEPF offices or call the call centre on 0800 117 669 for any pension-related enquiries until these systems are fully restored. Requests for benefits statements, IRP5 tax certificates and other documents should also be made through these channels.

The GEPF sincerely apologises to its members, pensioners, and beneficiaries for the inconvenience. We appreciate your patience and understanding as we work diligently to enhance our systems to serve you better.

Issued by:
Government Employees Pension Fund

Media Statement

Pretoria:  02 May 2024

The Government Employees Pension Fund (GEPF) has noted with sadness the passing away of Dr Samuel Motsuenyane.

Commenting on the role Dr Motsuenyane played in the South African economy, the Chairperson of the GEPF, Dondo Mogajane stated, “South Africa has lost an inspirational leader who had a profound impact on the development of black business especially during the dark days of apartheid. His bold leadership and unwavering commitment in ensuring that black business takes its rightful place in South Africa remains a key contribution in ensuring an all-inclusive South African economy, especially for the marginalised black entrepreneurs”.

“Dr Motsuenyane, who played a key role in the formation of the African Bank which was formed with the primary purpose of providing capital to black South Africans, contributed immeasurably to the development of black business. His role in the founding of the National African Federated Chamber of Commerce and Industry (Nafcoc) was instrumental in shaping black business in our country”.

On behalf of the GEPF we offer our condolences to the Motsuenyane family.

Issued by:
Government Employees Pension Fund

Media Release

Pretoria: 15 April 2024

The GEPF scored significantly above the median range compared to its local and global peers
of asset owners for responsible investing activities in the PRI 2023 Assessment Report.

PRI reporting is the largest global reporting project on responsible investment developed with
investors, for investors. The report facilitates learning and development by outlining how
signatories’ responsible investment activities compare year-on-year, across asset classes,
and with peers at a local and global level by providing high-level comparative data.

The GEPF scored exceptionally well across the various categories and in particular, on policy
governance and strategy, listed equity (active and passive) as well on fixed income and private
equity. The GEPF achieved scores ranging from 85 – 91%, well above the PRI median range
of between 40 – 65%, outperforming many of its local and global peers. The high scores signify
the GEPF’s commitment to include ESG factors in investment and ownership decision making
through the consistent application of fiduciary responsibility, in line with PRI Principle 6.

The impressive scores and stars achieved by the GEPF in the assessment report are listed
below:
• Policy governance and strategy: 81% and 4-stars (PRI median: 40-65%)
• Indirect – Listed equity – Passive: 91% and 5-stars (PRI median: 40-65%)
• Indirect – Listed equity – Active: 91% and 5-stars (PRI median: 40-65%)
• Indirect – Fixed income – Passive: 89% and 4-stars (PRI median: 40-65%)
• Indirect – Fixed income – Active: 89% and 4-stars (PRI median: 40-65%)
• Indirect – Private equity: 89% and 4-stars (PRI median: 40-65%)
• Confidence building measures: 85% and 4-stars (PRI median: 65-90%)

The GEPF is a founding signatory to the UNPRI and has been a member of the initiative since
its inception in 2006. PRI reporting is the largest global reporting project on responsible
investment and PRI signatories are required to report publicly on their responsible investment
activities each year. In turn, they receive several outputs, including an Assessment Report.

The scoring methodology for the 2023 Reporting Framework has an overall focus on:
• Signatories’ responsible investment implementation across their overall investment
processes;
• How specific responsible investment practices are implemented as a percentage of
assets under management covered;
• How sophisticated the responsible investment practices are for the majority of assets
under management;
• Consistency, including how policies are applied in different asset classes or subcategories, how policies are implemented by external managers or service providers;

The GEPF’s approach to responsible investment is driven by its Responsible Investment
Policy underpinned by the GEPF’ commitment and recognition that as an institutional investor,
we have a duty to act in the best long-term interests of our beneficiaries. The full report can
be found here, https://www.gepf.co.za/responsible-investment

Issued by:
Government Employees Pension Fund

The Government Employees Pension Fund (GEPF) is pleased to announce an annual pension increase of 6% to its pensioners effective 1 April 2024.

Pensioners who retired on or before 1 April 2023 are to receive an increase of 6%. Pensioners who retired after 1 April 2023 are to receive a proportionate increase based on the number of months they have been in receipt of pension by 31 March 2024.

This pension increase is based on the 5.50% inflation rate for the 12 months ending 30 November 2023 thus making the 6% increase equal to 109.1% of the Consumer Price Index (CPI) as provided in terms of GEP Law and Rules. The GEPF aims to grant increases to enable pensioners to keep up with rises in inflation but subject to this being affordable to the Fund at the given time.

The GEPF’s decision to grant inflation related increases is guided by our policies and a strong commitment to support our pensioners in managing the cost of living. We consistently strive to balance the need for reasonable pension adjustments with the long-term sustainability of the Fund.

It is noteworthy that increases beyond the stipulations of GEP Law and Rules are subject to policy considerations at the discretion of the Board, which meticulously considers the Fund’s investment performance, overall financial health, and the need to maintain the purchasing power of the pensions it pays to the extent affordable.

The GEPF remains dedicated to serving the best interests of its pensioners, ensuring they continue to enjoy a secure and dignified retirement.

For more information, please contact:

Call Centre:0800 117 669

Email: enquiries@gepf.co.za

Twitter: @GEPF_SA

MEDIA RELEASE

12 March 2024

The Government Employees Pension Fund (GEPF) has noted the release of data purportedly from its administrator, the Government Pensions Administration Agency (GPAA) by the ransomware group LockBit.

The GEPF is extremely concerned with this alleged security breach, as it was informed by GPAA that no data breach had occurred when it was notified of an attempt to gain access to GPAA systems by unknown individuals on the 16 February 2024. The GPAA subsequently established that this was an attempt by the ransomware group LockBit.

This morning, 12 March 2024, following the release of certain GPAA data by LockBit on 11 March 2024, the GEPF has been informed by GPAA that preliminary investigations has found that the certain GPAA systems were compromised. The GPAA is investigating the alleged data breach and whether this impacts the GEPF.

GPAA has reconfirmed that preventative action was taken when it became aware of the attempted access to its systems which included “shutting down” all systems to isolate affected areas. GPAA further confirmed that pension payments are not affected.

The GEPF is engaging with the GPAA and its oversight authority, the National Treasury to establish the veracity and impact of the reported data breach and will provide a further update in due course. Until the facts have been adequately established, the GEPF is unable to comment further on the matter.

Issued by:

Government Employees Pension Fund
For more information, please contact:

Matau Molapo
Email: matau.molapo@gepf.co.za
012 424 7315