The Government Employees Pension Fund (GEPF) has declared that workers who have been referred to work, do not receive their money.
In a statement issued by the GEPF, there is confusion among the people as to whether their pensions are being taken away from workers who have been directed to work.
“We want to make it clear that being fired from your job does not mean that you do not receive pension money. GEPF pays pension money according to the terms set, depending on what tax must be withheld in accordance with the law,” said GEPF.
It said that the fired workers cannot get retirement benefits because they are like people who have resigned.
“Benefits such as monthly income, increase in pension, increase in medical aid, and others are received by those employees who stay until retirement. There are different ways to get money from those who have been fired. One is cash depending on how much tax will be taken from the money received by the fired. Another is that the money can be transferred to another pension fund.”
It said that there are cases where part of the pension of the person who has been fired is deducted.
“Part of the money is withheld if there is evidence that he committed corruption which caused the employer to lose money. Part of the money of the fired person is only withheld if there is legal evidence that he committed corruption,” said GEPF.
He urged the members of this fund to make sure that they get information from the right sources, not to believe in nonsense. Parliament was recently told by the funders that we are in a good financial situation as we have about R3 trillion.
We have over 1.2 million members and 691,000 have applied to leave. 564 547 have been paid.