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Fin24 reports that delays in the payment of withdrawals from the two-pot retirement system have led members of the Government Employees Pension Fund (GEPF) to take to social media to express their frustrations.
While the GEPF had previously indicated that payments would take up to 60 days to process, there are still many members who have still not been paid. Members who have been divorced are experiencing a delay in payment, but there also appears to be a problem with payments to those members who applied in the first week of September. Other concerns raised on social media include payment issues to members who bank with Bidvest or Old Mutual Money. According to Mack Lewele of the Government Pensions Administration Agency (GPAA), the agency is aware of the delays relating to members who have been divorced. The reason for the delay is that the GEPF needs to validate any divorce proceedings before processing the claim. However, the GPAA has not acknowledged an issue in processing of payments for those members who applied early. According to Farhana Ismail, a GEPF member who is part of a Facebook page for disgruntled members, there are many government employees who applied for their savings pot withdrawal from the GEPF in the first week of September who have not been paid. According to Ismail, members who applied after the first week of September have already received payment. Other members also expressed concerns that their applications from early September seem to be stuck in the system.
- Read the full original of the report in the above regard by Maya Fisher-French at Fin24 (subscription or trial registration required)
Get other news reports at the SA Labour News home page