Who we are

We are Africa’s largest pension fund.  Established as a benefit pension fund when various public sector funds were consolidated in May 1996, we have more than 1.2 million active members, over 524 030 pensioners and beneficiaries, GEPF assets grew from R127 billion in 1996 to R2.27 trillion as of 31 March 2023.

Governed by the Government Employees Pension Law, our core business is to manage and administer pensions and other benefits on behalf of government employees in South Africa.

Our job is to give members and pensioners peace of mind about their financial security. We do this by making sure that our members’ funds and retirement savings are responsibly invested, protected against inflation that their value is safeguarded and that benefits are paid out efficiently, accurately and on time.

Every April, we pay pension increases that largely compensate our pensioners for inflation and, where necessary, we also pay catch-up increases.

Actuarial valuations of the Fund are conducted at least every three years. According to the latest valuation, undertaken as at 31 March 2021, the GEPF is 110.1% funded.

GEPF at a glance:

  • Founded: May 1996, when various public sector pension funds were consolidated into GEPF.
  • Nature of business: A defined benefit pension fund, meaning that all benefits are guaranteed.
  • Mandate: Managing pensions and related benefits on behalf of all South African government employees.
  • Legal status: A juristic entity governed by the Government Employees Pension Law of 1996, as amended.
  • Governance: The Fund’s fiduciary functions are the responsibility of the Board of Trustees with an equal number of employer and member representatives.
  • Clients: Approximately 1.2 million active members from more than 325 government departments and about 524 030 pensioners and other beneficiaries.
  • Funding level: 110.1% (based on the approved actuarial valuation conducted as at 31 March 2018).
  • GEPF assets grew from R127 billion in 1996 to R2.09 trillion as of March 2020
  • Geographical footprint: Client Walk-in Centres are in all nine provinces of South Africa.