If there is more than one eligible spouse, the annuity is shared equally among them. 1. Mrs Khumalo. Fax: +27 12 326 2507, Government Employees Pension Fund Stakeholder Perception Survey, GEPF mourns the passing of two Board Members, GEPF ANNUAL RESULTS AS AT FINANCIAL YEAR-END MARCH 2020. Are enhanced spouse pensions taken into consideration if a pensioner passes away? From 1 April 2012, the non-member spouse can claim their share of the member spouse’s pension interest after the divorce is granted, either by withdrawing the cash or transferring to another pension fund. How must a child apply for the benefit? We can further accept a non-member former spouse’s pension interest benefit after their divorce from the member of the GEPF. The spouse and participant must both sign a waiver form removing the spouse from the annuity and must either appear in person to the plan administrator or have their signatures notarized. Z300: Application form for funeral benefits: Z894 – local banks: Instructions to complete Z894 – local banks : Z894 – foreign banks: Instructions to complete Z894 – foreign banks: Life Partner Application Form (2008) Life Partner Application Form: FRAUD HELPLINE - 0800 203 900. Retirement or discharge annuities are guaranteed for five years after a GEPF member becomes a pensioner. If a pensioner dies within this period, the balance of the five-year annuities, excluding the annual supplement, will be paid to the beneficiaries in a once-off cash lump sum. I mean if they told me of the situation I would have done otherwise not to face a huge loan that was paid on my behalf without my knowledge. The GEPF also pays annuities to qualifying surviving spouse(s) or orphan(s) of members who die while in service or after retiring. The withdrawal creates an equivalent debt against the member’s benefit. Young spouses will not be cross-subsidised (awaiting parliamentary approval) The GEPF provides an automatic spousal pension of 50% of the member’s pension, however, if a member chooses, on retirement they can sacrifice 3.5% of their monthly income to boost the spousal pension to 75%. Unfortunately, annuities are not like other marital assets which can be divided readily between both spouses. That is, she can invest R4 552 368 (R6 828 552 × 2 ÷ 3) in a living annuity from which she can draw a monthly income. To receive the existing orphan’s benefit, both the biological or adoptive parents must have passed on, but to qualify for the new child pension, only the member or pensioner needs to be deceased. We have the following contact details for the GEPF: GEPF Head Office Toll free number: 0800 117 669 Fax number: 012 326 2507 Email: enquiries@gepf.co.za Website: www.gepf.co.za Postal address: GEPF Private Bag X63 Pretoria 0001 … The benefit calculator should be used for GEPF benefit calculations. an enhanced spouse’s annuity, which is of 75% of his or her monthly annuity at time of death. Reply. Spouse gets R7500 pm ... Any amount that becomes payable by a retirement fund to a non-member ex-spouse on or after 1 March 2012, in terms of a divorce order that was issued before 13 September 2007, will be free from tax. And confirmation of death by the Department of Home Affairs. Payment to minors will be made to the bank account of the guardian of the child. 2. I’d like to know if it’s possible for GEPF to pay 50% to your spouse without letting you know. Sunnyside, Pretoria, Tel: +27 80 011 7669 A certified copy –not older than six months,of the pensioner’s death certificate. The GEPF is a defined-benefit fund, which means it provides a pension to members on retirement based on their final salary and years of service. This benefit consists of R7 500 for the funeral of a member or pensioner. How are the benefits going to be calculated? In terms of the child pension rules, most of the orphans will receive bigger monthly pensions as of 1 June 2018. 06 Everything you need to know about your membership 09 All the details about your contributions 10 Overview of your benefits GEPF Guide 39282 2/12/10 10:34 AM Page 2 INTRODUCTION This booklet is a summary of the main benefits, procedures and processes contained … The formulas used to calculate the benefits differ – child pensioners will receive bigger benefits than the orphans used to. The pensioner opted for the enhanced spouses benefit with reduced gratuity. Answer: Nomzi, This should be indicated on their web site, but we have not seen it ourselves. The GEPF provides benefits for the funeral of a member or a pensioner, as well as for the funeral of a spouse or eligible child of a member or pensioner. Rose can now decide how much monthly income she wants to draw. Spouse is entitled to 50%. Retirement or discharge annuities are guaranteed for five years after a GEPF member becomes a pensioner. Benefit now exceeds the pensioner annuity. Resignation When your client resigns from government employment they are allowed to take their full benefit as a cash lump sum from the GEPF or have the benefit transferred to an approved retirement fund (as explained on page 4). Home GEPF Forms Spouse Pension. It is payable to the beneficiaries of the deceased member or, if there are no beneficiaries, to the member’s estate. There will be a new Child Pension application form (CHP1) available on the GEPF website that must be used forchild pension applications. This estimate assumes that you use your entire projected investment value to purchase an annuity at retirement. Currently most GEPF members have a total contribution of 20.5% of salary (7.5% by member and 13% by government). Enhanced spouse annuities apply only to spouses i.e. Normal Retirement Forms Z102: Withdraw from Fund application form: Z894: ACB Bank particulars ( Local banks) Z894 : ACB Bank particulars ( Foreign banks) Checklist: Check list for Z894 to be checked by the member: Choice Form: For spouse pension on retirement – all retirements prior to 31 October 2019, where the member has … 3 children are entitled 16.67 % each. 6. GEPF goes back to exit date to calculate what annuity the pensioner would have received had there been no reduction on the annuity (1/55 instead of 1/57). Child pensions are subject to tax, but most child pensioners will not be subject to the actual deduction of tax, as they earn less than the minimum tax threshold. Home Retirement Benefits The GEPF provides for normal and early retirement, as well as retirement for medical (ill health) reasons. The same applies if the member dies while in service and had a full potential service period of at least 10 years – that is pensionable service years plus unexpired years until normal retirement. Annuity at date of death (monthly) Pension number: Pensioner date of birth: Spouse date of birth: Pensioner gender ... Total GEPF service years of : 0 Annual salary increase % Final annual salary: 0: Date From Date To Salary; sort clear add line: Disability % Has spouse or life partner? GEPF pays a funeral benefit to help its members and pensioners pay the funeral costs when a GEPF member or pensioner dies. Death benefits are paid when a member dies while in service, or within five years of becoming a pensioner. Guarantee period: A guarantee period can be added to a life annuity to ensure that if the annuitant dies before a certain number of years (e.g., 20 years), the beneficiary (spouse) will receive payments for the rest of the guarantee period. Child pensions are paid to the guardian until the age of 18, at which time the benefit must be paid to the major child pensioner directly. Death while in service The benefit paid is based on the member’s period of pensionable service. A certified copy–not older than six months, of the green bar-coded identity document. Resignation When you resign from government employment you are allowed to take your full benefit as a cash lump sum from the GEPF or have the benefit transferred to an approved retirement fund (as explained on page 4). interest can only start accruing 60 days after the specific monthly payment becomes due. SPOUSE’S ANNUITY 43 ORPHAN’S PENSION 45 DEATH AFTER RETIREMENT 46 ... Changes include new/different beneficiaries, spouses and children. It is payable to the surviving spouse or beneficiaries or, if there are no beneficiaries, to the member’s estate. If you are married or have a life partner, you can select an amount of your monthly pension you would like your spouse/life partner to receive after your death. Children each get R1200 pm (10% of R12000). Take into account that the spouse pension is a life-long commitment. This means that the surviving spouse and children can receive annuities at the same time. When a pensioner dies, the spouse needs to fill in the Application for Spouse Pension Z143 form and submit it to the GEPF, together with the following documents: In terms of the legislative change to the GEP Law, the Orphans Pension has been replaced with a Child Pension as of 1 June 2018. Children each get R1000 pm. No payment will be made to a funeral undertaker. Detailed information regarding death benefits is available under the ‘Our benefits’ section of the GEPF website at www.gepf.gov.za.. This option is not available to contributing members. A child must be proven to be legally adopted or a biological child or the deceased member or pensioner. We will accept claims for funeral benefits from the deceased pensioner’s spouse,child, parent or parent-in-law, brother, sister or brother-in-law, sister-in-law or the executor of the estate. GEPF Administration Office Building 2A, Trevenna Campus Corner Meintjies and Francis Baard Street Sunnyside, Pretoria.