Trillion rand in government pension fund

Cape Town - The Government Employees Pension Fund (GEPF) had assets last year of R1 trillion, according to Finance Minister Pravin Gordhan.

"The GEPF had assets valued at R1 trillion in March 2012," he said in a written reply to a parliamentary question, tabled on Tuesday.

According to its website, the GEPF is the largest pension fund in Africa, and has more than 1.2 million active members and over 300 000 pensioners and beneficiaries.

Gordhan's reply reveals there are a total of three public service pension funds. The other two are the Associated Institutions Pension Fund, with 2 521 active members and, the Temporary Employees Pension Fund, which has 123 active members.