The Government Employees Pension Fund (GEPF) lost an eye-watering R200 billion due to the ongoing conflict in the Middle East.
The Government Employees Pension Fund (GEPF) has reassured members and pensioners that their benefits remain secure following media reports that the fund's market value declined by R200 billion during the Israel–USA–Iran conflict.
The clarification comes after GEPF chairperson Frans Baleni said in a recent interview that the fund had reportedly declined by R200 billion in market value during the first week of the conflict.
He said the losses showed how global geopolitical events can affect the fund's investments and that the GEPF was reviewing its investment strategy.
In a statement issued on Monday, the GEPF said the decline in market value does not affect members' pension benefits or the fund's ability to pay benefits.
