Steady growth for government pension fund

The Government Employees Pension Fund (GEPF) has released its annual report for the 2014/2015 financial year, showing steady growth and a sustainable investment strategy.

The GEPF's investment strategy uses a liability-driven approach which takes into consideration expected future benefit payments, the actuarial position, the risk to the overall solvency of the Fund, and various long-term objectives. The GEPF is required to invest 90% of its assets in South Africa, and is thus the single largest investor in the JSE.

According to Dr Renosi Mokate, GEPF board chair, the fund has continued to grow its assets and membership despite local and international economic challenges. As of 31 March 2015, GEPF's membership comprised 1,266,101 active members and 406,395 pensioners. Furthermore, the fund's accumulated funds and reserves totalled R1,591 billion.

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