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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

The Government Employees Pension Fund (GEPF) has become aware of fraudulent letters being sent to GEPF members and pensioners, using fake GEPF letterheads by fraudsters trying to defraud members and pensioners off their pension’s monies.

The individuals are sending letters to GEPF members and pensioners to request information relating to their pending pension payments. These letters request members and pensioners to provide:

• Personal details such as identity numbers, pension numbers and bank details.
• Confirm that they agree to transact electronically with the GEPF with respect to submitting and processing of their information.
• Verifying personal details including email and cell phone details.
• Accept and respond to a One-time Pin (OTP) to legitimise the communication.

Members and pensioners are also being targeted via SMS’s encouraging them to resign and collect their pensions indicating that they would receive more funds when they resign rather than retire.

Pensioners and members are advised not to respond to such correspondence. Such correspondence should be brought to the attention of the GEPF. Pensioners and members are further advised to always contact the Fund to verify any type of communication, especially when they are expecting payment on their pensions.

The GEPF would like to make its members, pensioners, beneficiaries, and their families aware that:

• GEPF services are FREE
• No one is allowed to ask for a fee to assist GEPF current or former members, pensioners, beneficiaries, or their families with respect to GEPF services
• Members and pensioners are requested not to share their personal information such as identity document number, pension number, email addresses, cell phone numbers and bank account details.

Note to editor

GEPF is the largest Pension Fund in Africa with over 1.2 million active members and about 500 000 pensioners and beneficiaries. The Fund is responsible for more than R2.3 trillion in assets under its management.

Issued by: Government Pensions Administration Agency

For more information:

Enquires: GPAA Head of Communication: Mack Lewele 082 450 5076 or Dr Rakgwatha Mokou: 0818140030

Or contact the GEPF on:

Call Centre:0800 117 669
Email: enquiries@gepf.co.za
Twitter: @GEPF_SA