South Africa: How mooted two-pot retirement reform could reshape the GEPF’s investment strategy

By Xolisa Phillip, in Johannesburg
Posted on Friday, 6 January 2023 17:51

South African Rands
South African Rands REUTERS/Philimon Bulawayo

As South Africa prepares for a two-pot retirement system in March 2023, the Government Employees Pension Fund (GEPF) might have to increase investment in liquid assets, says head of actuarial and benefits Brian Karidza.   

At some point, the investment strategy would need to be reviewed to allow for more investment in liquid assets,” Karidza told The Africa Report in November during a presentation on the GEPF’s annual report for the year ended 31 March 2022.

In the year under review, the GEPF, the largest pension fund in Africa, had 1.26 million members and R2.3trn ($135.4bn) in assets under management ranging from domestic and foreign listed equities, as well as domestic bills and bonds.