Government Employees Pension Fund (GEPF) clarifies what’s driving these changes and whether your money is truly disappearing.
Zuko Komisa
A recent wave of alarm among Government Employees Pension Fund (GEPF) members over alleged “disappearing” funds—with some reportedly seeing their balances drop by hundreds of thousands of rand overnight—has prompted the fund to offer clarification.
The concerns arose as government employees claimed to have lost significant sums from their pension accounts, leading to worries that their money was genuinely vanishing.
The GEPF, which manages the pensions for South Africa’s public servants, is expected to detail the underlying reasons for the balance fluctuations, which are likely attributed to valuation adjustments, market performance, or other technical accounting changes, rather than outright disappearance of contributions.
Members are urged to await the official explanation from the Principal Executive Officer to understand what is truly driving these changes in their pension statements.
Addressing the issue, Musa Mabesa, Principal Executive Officer at the GEPF joined Drive 959, to shed light on the sudden drops in balances and assure members about the security of their savings.
Listen to the full conversation here:
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