Latest News & Developments
government employees pension fund
How Ithala Bank’s liquidation threatens rural economies
Ithala Bank’s potential liquidation raises alarms among the Democratic Alliance and traditional leaders, who warn of devastating consequences for rural communities reliant on its services.
Frans Baleni steps in as chairperson of GEPF following Mogajane’s resignation
Baleni is a former general-secretary of the National Union of Mineworkers and currently serves as a director in a number of boards.
GEPF invests R879. 9m in Grit’s African property development unit
In addition, the GEPF, represented by the Public Investment Corporation of South Africa (PIC), have injected $48. 5 million (R879. 9 million) of cash equity as part of a $100 million recapitalisation of GREA.
GEPF portfolio grows to record R2. 38 trillion in 2023/24 despite volatile economic conditions
Member contributions saw a 10. 8% increase to R91. 94bn, highlighting strong member engagement and active membership, which grew by 0. 84% from 1267307 to 1277902.
MK Party hails Mogajane’s resignation as a crucial step for good governance
The MK Party welcomes Dondo Mogajane’s resignation, reaffirming its commitment to ethical leadership and protecting the integrity of public institutions.
Mogajane toys with joining active politics after stepping down from executive positions
Mogajane allegedly accepted a R1 million ‘gratification’ when he was director-general of National Treasury from convicted former chairman of VBS Mutual Bank, Tshifhiwa Matodzi, in order to allow the defunct bank to continue taking municipalities deposits in contravention with the law.
Over 63,000 government employees dip into their two-pot retirement funds, says GPAA
Since September 1, 2024, the Government Employees Pension Fund has received a little under 63,000 two-pot retirement system applications.
Joy as military veterans receive housing
Nine houses were handed over to military veterans in Copesville, Pietermaritzburg, by the KwaZulu-Natal MEC for Transport and Human Settlements Siboniso Duma.
‘It’s cruel scam by government’: Zwelinzima Vavi on the two-pot retirement system
Saftu’s Zwelinzima Vavi insists the two-pot system was introduced as a scheme for the government to raise money through the tax deducted from the workers’ savings and retirement funds.
KZN Premier Thami Ntuli earmarks R200m for women’s empowerment
KwaZulu-Natal Premier Thami Ntuli has set aside R200 million to accelerate women’s empowerment in the province.
Brazil, SA and Spain set up an alliance to combat worldwide labour inequalities
South Africa, Brazil and Spain’s labour ministers formed an alliance to combat worldwide labour inequalities.
Public servants are feeling the pinch
The government’s wage system processes thousands of garnishee orders running into millions of rands each month.
ANC government accused of sabotaging Ford’s jobs plan for shack communities
The SADC Peace Commission team’s assertions come just days after Ramaphosa promised a six-point jobs plan which includes investing in manufacturing electric cars to revitalise the country’s ailing economy during his Siyanqoba rally speech.
Solidarity fears Pension Laws Amendment being rushed
THE decision by South African lawmakers to amend legislation to allow people the opportunity to withdraw their pension savings early, may come as a welcome lifeline for some, but trade union Solidarity has criticised the ‘rushed pace’ of amendments.
Now that Markus Jooste is dead, will justice prevail?
Markus Jooste’s passing came just a day after the Financial Sector Conduct Authority imposed a R475 million penalty on him.
Alarm as more state entities hit in wave of suffer cyber attacks
Party tried to get info at Government Pensions Administration Agency
Widow’s battle for more pension
Florence Seloana turned to the high court sitting in Polokwane, in a bid to receive the full pension benefits of her late husband, Malesela Seloana.
Employee on breadline as pension fund delayed for nearly two years
Retired finance management officer Thabisile Cele has been at loggerheads with the Government Employees Pension Fund (GEPF).
Medically boarded pensioner tells of legal battle over benefits
“My wife is a seasonal worker who had to take on the job to see us through with additional finances that my current pension cannot cover. ”
Financial Services Tribunal upholds PFA ruling on fund transfers
This comes after a complainant alleged that the MEPF allocated 23 years and two months of services to him while it should have been 41 years and two months.
GEPF reaches R2. 32 trillion market value – largest in its history
GEPF said this was as its investment strategies continued to protect the fund’s assets amid a poor performing South African and global economy and as the financial year 2022/23 was a challenging year for investors around the world.
Ruan Jooste’s Rants and Cents: GEPF’s latest plan is a misguided political ploy
The Government Employees Pension Fund chairperson Dondo Mogajane launched the GEPF’s Transformation Policy last week, marking a watershed move for economic transformation in South Africa. The policy, unveiled at the GEPF Annual Thought Leadership Conference 2023 in Cape Town, will throw the full weight of Africa’s largest pension fund behind promoting socio-economic development and addressing historic inequalities within the country and the financial sector.
GEPF tables new policy to deepen financial sector transformation
The GEPF has just officially launched a new Transformation Policy that seeks to create a framework for future GEPF investments by to stimulate and achieve socio-economic transformation,
PIC grows assets under management and ventures into the unlisted sector
PIC acting chief financial officer Brian Mavuka said global financial markets had to contend with tighter financial conditions, heightened geopolitical tensions, risk aversion, and slower economic growth.
Cheating, financially reckless husband loses out on half of wife’s pension
A judge found that the husband squandered his and his wife’s joint assets during their marriage by transacting in clandestine, questionable business dealings.