New pension fund board meets

Wednesday, September 23, 2009

Pretoria - Minister of Finance Pravin Gordhan has urged the newly constituted Government Employees Pension Fund (GEPF) Board of Trustees to place greater focus on service delivery.

The new board held its first meeting on Tuesday.

Minister Gordhan called for regular interaction and consultation between his ministry and the new chairperson of the Board of Trustees.

"Members of the Board must familiarise themselves with the current debates around social security reforms so that the activities of the Fund are aligned," said Minister Gordhan.

The GEPF Board of Trustees consists of 16 members and Arthur Moloto, who is a special adviser to Public Enterprise Minister Barbara Hogan, was elected as its new chairperson.

The GEPF is the largest pension fund administrator in Africa with over 1.3 million contributing members. The fund is responsible for more than R707 billion worth of assets under its management.