Date: 11 October 2025
The GEPF implemented updated actuarial interest factors with effect from 1 October 2025. The factors are derived from the assumptions adopted in the Fund’s recent statutory actuarial valuation as at 31 March 2024. The implementation of the revised factors follows the completion of a consultative process with employee organisations as at 31 July 2025 as required by the GEP Law and Rules.
The revised factors result in actuarial interest values that are on average 15% lower than those that would result from the 2021 factors. The extent to which individual members’ actuarial interest will differ between the 2021 and 2024 factors depends on their age and category (i.e., whether they are Service members or not).
The revised factors will be applied across all active member records, meaning the balances reflected in all components or pots will be recalculated on the updated basis. Exit benefits, apart from retirements, where members leave with less than 10 years of total pensionable service, will be affected. All resignations, irrespective of service, will be affected. Pensioners’ benefits are not affected by these revised factors.
This statement is intended to reassure members that the implementation of the revised actuarial interest factors is a legislative requirement as per the GEP Law, unions as representatives of active members were extensively consulted, the implementation does not amount to members‘ funds being stolen nor is the government involved in this process in any way as incorrectly alleged on social media platforms.
Members are requested to consult GEPF official channels for more in-depth understanding of the topic such as the GEPF website, www.gepf.co.za, YouTube channel, @GEPF_SA as well as GEPF social media platforms on X, Facebook and LinkedIn.
Issued by the Government Employees Pension Fund
