| 1. |
It has come to the attention of the Western Cape Education Department (WCED) that an unfounded rumour is spreading regarding the pension benefit payments after 2013 and with effect from 2015. |
| 2. |
The rumours suggest that there will be no lump sum payable to Government Employees Pension Fund (GEPF) members. |
| 3. |
The WCED, as well as the GEPF are not certain where the rumours originated. However, members can be assured that the GEPF's Board of Trustees has not approved any changes to the Fund. |
| 4. |
The GEPF will continue to pay all benefits due to members leaving the Fund, according to the Fund's rules. This means that those who are entitled to a once-off lump sum payment will receive this payment, while those entitled to a monthly pension over and above the once-off lump sum payment, will receive this money. |
| 5. |
All GEPF benefits are defined in the GEP Law and rules and the benefits are thus guaranteed. Members will never receive less than the benefits for which they qualify and the pension is therefore safe. |
| 6. |
Finally, the GEPF has given the WCED the assurance that they are financially sound, as per the recent annual report, and there is no cause to fear that these benefits will not be paid in future. |
| 7. |
Please ensure that this circular is brought to the attention of all staff under your supervision. |
SIGNED: PA VINJEVOLD
HEAD: EDUCATION
DATE: 2014:09:19
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