THE Government Institutions Pension Fund will increase pension benefits by 3,5% for the 2020/21 financial year starting 1 April 2020.
This was announced by Edwin Tjiramba, the fund’s general manager of stakeholders engagement, on Friday last week.
The increase is expected to benefit more than 40 000 GIPF members.
Tjiramba said despite a high degree of uncertainty that surrounds the world economy due to the Covid-19 pandemic, the fund remained resolutely committed to providing members’ benefits and cushioning pensioners from unexpected changes in their purchasing power.
"The incessant ability to increase members’ benefits annually is driven by the fund’s collective commitment to guard and grow the members’ financial security,”he said.
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