IOL Business reports that the Government Employees Pension Fund (GEPF) has officially resumed the processing of two-pot withdrawal applications on its self-service platforms, including the GEPF App.
This comes after the Fund temporarily suspended these applications from 7 to 21 October 2025 to update its systems with new actuarial factors aimed at improving the accuracy of benefit calculations. During this period, members were unable to submit new savings withdrawal requests through the self-service platforms but were assured that all other benefits and services would continue as normal. In a brief statement on Wednesday, the fund announced that two-pot withdrawal applications on its self-service platforms had resumed.
This comes as the fund continues to deal with mounting backlash from some of its members after it implemented updated actuarial interest factors, effective from 1 October 2025, which will reduce pre-retirement exit benefits by an average of 15%. In a statement last week, the Police and Prisons Civil Rights Union (Popcru) said: "We find it deeply troubling that such material changes appear to have been implemented without any consultation, prior notice, or adequate explanation to the affected members." The union added: "The GEPF has attributed these reductions to actuarial projections, yet Popcru finds this reasoning problematic.”
- Read the full original of the report in the above regard by Mthobisi Nozulela at IOL Business
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