Government pensions administrator rebuffs allegations of financial mismanagement

THE Government Pensions Administration Agency (GPAA) has responded to recent concerns surrounding a document that has raised eyebrows within the public domain.

- SIPHELELE DLUDLA

A week ago, the Public Service and Commercial Union of South Africa (PSCU) raised alarm over alleged financial mismanagement of pension funds amounting to more than R500 million at the GPAA.

According to a preliminary internal audit report for the 2024/25 financial year, compiled by Abacwaningi Business Solution (ABS) Audit & Advisory Services, there are a number of key governance concerns at the GPAA, which the auditors have brought to the attention of management to ensure sound governance.

The GPAA is a government component which reports to the Minister of Finance and administers funds and schemes on behalf of the Government Employees Pension Fund (GEPF), the largest pension fund in Africa.