In a recent meeting of the PSCBC the Government Pensions Administration Agency (GPAA), who was responsible for assessing the pensions redress applications, informed parties that 53 717 of the applications received, had been approved. Another 18 618 applications were potential approval cases, requiring verification of certain information. These cases are currently being followed up and applicants falling in this category have been informed of their status.
Based on an actuarial assessment of the available funds, ring-fenced for the redress purpose in 1998, plus interest earned, parties to the PSCBC agreed that qualifying persons would receive 68.4% of the pension adjustment they would have been entitled to.
Of the 53 717 cases that have been approved, 12 952 are persons who are still working in the public service. These members of the Pension Fund have had their years of pensionable service adjusted in terms of the above-mentioned factor.
The remaining 40 765 approved cases, fall into the following categories and will all receive cash pay-outs (also in accordance with the adjustment factor):
- Pensioners – 20 343
- Persons who exited the Fund with gratuities only(e.g. resignations, less than 10 years’ pensionable service, etc) - 6547
- Claimants for deceased members of the Fund – 13 875
At the time of reporting, 18 589 of those who qualify for the cash pay-outs have already received their money.
Members who have pension redress queries are advised to contact the GEPF call centre (0800 117 669), GPAA (012 319 1911) or walk in centres (information on GEPF web page under “Contact Us” icon).