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GEPF urges Godongwana to rein in government pensions administration agency to protect workers’ assets

Details

GEPFNews24 reports that the Government Employees Pension Fund (GEPF) has urged Finance Minister Enoch Godongwana to put the Government Pensions Administration Agency (GPAA) under the fund’s control to rein in governance breaches and protect state employees’ pensions.

This followed what the GEPF said was a breach of contract by the GPAA. In a July letter to Godongwana, GEPF board chairperson Frans Baleni urged the minister to help protect the assets of state employees by bringing the standalone agency under the control of the GEPF. “GPAA presented its financial report to the [GEPF] board in June 2025 with spending of R1.57 billion, reflecting overspending of R101 million against the approved adjusted budget of R1.47 billion for the year ended 31 March,” Baleni pointed out on 9 July 2025. The GPAA was established by the government in 2010 to manage the administration of the GEPF’s R3 trillion in the pension assets of state employees. Its CEO Kedibone Madiehe reports to the finance minister. In terms of the management agreement, the GEPF retains the authority to approve the GPAA’s operational budget and major transactions.

Baleni wrote: “The breach, a first of its kind, is a huge concern for the board and [it] would like to bring it to the minister’s attention. The board would have acted against the GPAA were it not for lack of authority over GPAA.” He added: “Furthermore, the board resolved that GPAA’s access to GEPF’s bank account for purposes of paying GPAA’s fees will be reconsidered to tighten controls around unauthorised payments out of the fund’s account.” By Friday, the GEPF had not received a response from the Minister to its request, although his spokesperson acknowledged receiving Baleni’s letter.

  • Read the full original of the report in the above regard by Sipho Masondo & Sikonathi Mantshantsha at News24 (subscription / trial registration required)


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