The Government Employees’ Pension Fund is a defined benefit fund with over 1.2 million active members and more than 375 000 pensioners and beneficiaries. NORMAL RETIREMENT:Sixty (60) years is the normal retirement age for GEPF members. Here we show how to claim your divorce benefit from the GEPF. In these circumstances, members receive both annuities and gratuities if they have more than 10 years of pensionable service. The benefits paid depend on whether a member has less than 10 years’ pensionable service, or 10 or more years of pensionable service. For any other funds benefit calculations, please contact the Government Pensions Administration Agency. ILL HEALTH AND OTHER RETIREMENTS: Enhanced benefits are paid when members retire for medical reasons, when injured on duty, or when their posts are abolished through organisational restructuring. Members with less than 10 years’ service receive a gratuity – a once-off cash lump sum that is equal to their actuarial interest in the Fund. This calculator is only provided for your convenience and to provide you with estimates. Death benefits are paid when a member dies while in service, or within five years of becoming a pensioner.The GEPF also pays annuities to qualifying surviving spouse(s) or orphan(s) of members who die while in service or after retiring. If you have any questions about your pension benefits, please talk to us. 2.8 (4 votes) Old Mutual. GEPF accumulated funds and reserves grew at an average rate of 7.5% for over 10 years Benefit Calculator Multimedia Whats New? Its current benefit structure offers members: […] tax tables. Free calculator to help optimize pension payout or planning. For any other funds benefit calculations, please contact the Government Pensions Administration Agency. Tel: +27 80 011 7669 Fax: +27 12 326 2507 The provision of this tool in no way represents a guarantee that the GEPF will grant or pledge the amount/s quoted and does not constitute […] Pension Case Management is built to support latest versions of Firefox, Google Chrome and Internet Explorer 10 and 11. Therefore, the tax-free benefit is R6 828 552 - R3593 975 = R3 234 577. For members with less than 10 years pensionable service, the benefit will be consistent with and not less than the resignation benefit. Bookmark the permalink. This is a defined benefit fund which means that the benefits are determined in terms of the rules of the fund and are dependent on the duration of membership (referred to pensionable service), the final salary of the member concerned and the member’s age. Yes – the benefit is subject to tax. These are calculated in the same way as for normal retirement, but with a reduction of a third of one percent (0, 33%) for each month between the dates of early retirement and normal retirement. Option 1: Retire with the GEPF If Rose chooses this option it means she chooses to have her pension paid by GEPF … The GEPF now has a self-service portal and a member only needs their ID number and a password to access their latest benefit statement. Because the GEPF is a defined benefit fund, GEPF members have recently been better off than those invested in a private pension. Detailed information regarding retirement benefits is available under the ‘Our benefits’ section of the GEPF website at www.gepf.gov.za. The message below will appear. Click Here. Welcome to Pension Case Management (PCM). Again, the member’s years of pensionable service determine the benefits. First: If I am to receive about R3 million as a resignation benefit after 20 yrs service, how much tax will I pay? 12 Global Life House Circular Drive Bhisho Free State Mangaung No. CONTACT US CLIENT CENTRE. The benefit is split on a straight-line basis (pre and post 31 March 1998 service). Tax certificates will be … We have more than 1.2 million active members, in excess of 450 000 pensioners and beneficiaries, and assets worth more than R1.61 trillion. Established in 1996, it is the largest pension fund in South Africa and one of the largest pension funds in Africa and the world. The Government Employees Pension Fund (GEPF) is Africa’s largest pension fund. You should request formal confirmation of the results from the GEPF before placing any reliance thereon. The benefit calculator should be used for GEPF benefit calculations. Sunnyside, Pretoria, Tel: +27 80 011 7669 Benefit Calculator Version 1 Page January 2011 Or the service years will be displayed for the period from admission until exit date Enter all salary periods and salary notches for the last 24 months (730 days) or whole period if shorter Select “Calculate benefits” The GEPF death benefit provides as follows: Death while in service: The benefit paid is based on the member's period of pensionable service. This will inform the trustees as to who your legal and financial dependants are, as … GEPF Divorce Benefits - A clear explanation on the GEPF and Divorce: The "clean-break" divorce principle was added to the Pension Fund Act 24 of 1956 on 13 September 2007. I am a GEPF member. GEPF Calculator. Members with more than 10 years’ service are also paid an annual supplementary amount. Provide as much information as you can and we promise to take corrective measures to the best of our abilities. There is apparently a tax free portion from 1984 till 1998? Members whose employment have been affected by restructuring or reorganisation are also able to receive retirement benefits. The name of the program executable file is gepf.exe. As a member of the Government Employees Pension Fund (GEPF) one of the most important documents you need to keep up to date is your beneficiary nomination form. Members of GEPF qualify for benefits on retirement and also on resignation or discharge. DISCLAIMER : All the amounts in the calculator are merely quoted amounts which are subject to change. Experiment with other retirement planning calculators, or explore other calculators … Members with 10 or more years’ service receive a gratuity and a monthly pension annuity. One of the questions I receive from most retirement fund members is about who has a claim to their retirement funds if they die in service. For any other funds benefit calculations, please contact the … It is payable to the surviving spouse or beneficiaries or, if there are no beneficiaries, to the member's estate. Answer: Veena, There is a formula: your benefit relating to pre 31 March 1998 is not taxed, the benefit relating to post 31 March 1998 service is taxed per the withdrawal lump sum tax table. FRAUD HELPLINE - 0800 203 900. The GEPF is the retirement fund to which many government employees belong. Children of GEPF members are the biggest winners in the improvement to benefits. Members whose employment have been affected by restructuring or reorganisation are also able to receive retirement benefits. Second: How will the new laws on resignation and benefit payouts by the Minister of Finance affect the payout? Benefits Calculator – You can calculate your GEPF benefits using the benefits calculator. Considers the effects of lump sum or monthly payouts, single-life or joint and survivor payouts, or working longer, on total amount. The provision of this tool in no way represents a guarantee that the GEPF will grant or pledge the amount/s quoted and does not constitute an agreement to pay the quoted amount/s or bind the GEPF in any respect. * If you joined the GEPF before 1 March 1998, a portion of any cash withdrawal you make may be tax-exempt as the benefits of the GEPF were tax free before that date. GEPF Administration Office Building 2A, Trevenna Campus Corner Meintjies and Francis Baard Street Sunnyside, Pretoria.