GEPF posts strong results, assets grow to R2.7trln amid global volatility, domestic strains

THE Government Employees Pension Fund (GEPF) delivered a resilient performance in the year ended 31 March, growing its assets to R2.7 trillion from R2.38 trillion and achieving a 14.1% investment return, despite a year marked by economic uncertainty both at home and abroad.

- SIPHELELE DLUDLA

The Fund maintained a strong 119% funding level, underscoring its long-term financial sustainability.

Global markets were strained by ongoing geopolitical tensions, elevated energy costs and persistent inflation.

Domestically, South Africa continued to grapple with sluggish GDP growth, structural bottlenecks and sectoral underperformance. However, improvements such as reduced load shedding and the formation of the Government of National Unity supported a modestly more stable economic environment.

The GEPF said the introduction of the Two-Pot retirement system, which allows limited early access to pension savings, also had a noticeable impact on household liquidity and pension fund inflows.

Despite the broader environment of volatility, the GEPF said it remained firmly guided by its long-term investment strategy, which is rooted in the Fund's investment policy and core beliefs.

This approach informed decisions across asset classes and underpinned its ability to navigate the year's challenges.