Moneyweb reports that the Government Employees Pension Fund (GEPF) has reached a significant milestone in the 25th anniversary of its founding, with its investment portfolio now valued at over R2 trillion.
This was revealed in the GEPF’s financial results for the year ended 31 March 2021, published on Monday. It showed that the fund’s investment portfolio had grown 27.5% or by R451 billion for FY2021. The GEPF noted that “the increase in the investment value of the fund is mainly attributable to the recovery in financial markets, particularly equities and bonds.” This followed a contraction in 2020. The fund’s unlisted and property portfolios however bore the brunt of market conditions resulting from the impact of the Covid-19 pandemic on the economy, and suffered a decline. The GEPF pension administrator (GPAA) received 27,960 pension claims in 2021 (34,134 in 2020), reflecting a decrease of 18% in claims. Its retirement claims for 2021 were R76 billion (R69.1 billion in 2020). The fund’s active members decreased to 1,265,406 in 2021 (1,269,161 in 2020). The number of pensioners in the fund decreased to 312,647 in 2021 (313,173 in 2020).
- Read the full original of the report in the above regard by Barbara Curson at Moneyweb
- Listen to interview with principal executive officer, GEPF reaches R2trn milestone, at Moneyweb
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