WHO IS GEPF?
The Government Employees Pension Fund (GEPF) is Africa’s largest pension fund. We have more than 1.2 million active members, in excess of 450 000 pensioners and beneficiaries, and assets worth more than R1.61 trillion.
GEPF is a defined benefit pension fund that was established in May 1996 when various public sector funds were consolidated. Our core business, which is governed by the Government Employees Pension Law (or GEP Law), as amended, is to manage and administer pensions and other benefits for government employees in South Africa.
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And what are the pros and cons of both?
By Eric Jordaan
23 Feb 2021 00:10
Could you please compare the cost of a purchase of service from the GEPF [Government Employee Pension Fund] versus a retirement annuity [RA]? For example, maybe someone wants to buy an additional five-year purchase of service than taking out retirement annuity because the person started contributing to a pension fund late. What are the pros and cons?
To start, I think it is important to have a good understanding of the two types of retirement funds.
Government Employee Pension Fund (GEPF)