- Condemnation of Corruption in GEPF: The Economic Freedom Fighters strongly condemned widespread corruption within the Government Employees Pension Fund (GEPF), highlighting failures by government bodies that have facilitated billions in loot at the expense of public servants.
- Allegations of Misappropriation by GPAA Officials: The EFF claims that officials within the Government Pensions Administration Agency (GPAA) have been involved in corrupt procurement activities, resulting in over R1.2 billion in losses and risking pensions for workers and their families.
- Political and Regulatory Negligence: The party notes that efforts to investigate pension fund violations, such as a motion for an Ad Hoc Committee, were blocked, and regulatory agencies like the FSCA have failed to act despite identifying unpaid contributions worth R7 billion.
- Call for Urgent Reforms and Accountability: The EFF demands urgent reforms, prosecutions of those involved, recovery of stolen funds, and personal accountability for administrators, asset managers, and regulators to protect workers’ retirement savings.
The Economic Freedom Fighters (EFF) has issued a strong statement condemning widespread corruption in the Government Employees Pension Fund (GEPF) and demanding urgent reforms in South Africa’s pension sector. The party said failures by Parliament, National Treasury and regulators have enabled billions to be looted at the expense of public servants.
According to the EFF, the Government Pensions Administration Agency (GPAA), which manages the GEPF, is implicated in losses of over R1.2 billion through corrupt procurement. Instead of protecting workers’ pensions, officials allegedly enriched themselves. The EFF warned that workers and their families face destitution as retirement savings are gambled away without accountability.
The statement recalls that in November 2024, the party tabled a motion for an Ad Hoc Committee to probe pension fund violations, but it was blocked by other parties. The Financial Sector Conduct Authority (FSCA) had already flagged R7 billion in unpaid contributions from 2,224 private security companies and 172 municipalities, yet no action followed.
The EFF accused Finance Minister Enoch Godongwana of ignoring calls for a full audit of private firms contracted by the state. It warned that regulatory negligence has deepened the crisis, leaving workers unable to access their funds under the two-pot system.
The party insists on prosecutions, recovery of stolen money, and holding administrators, asset managers and regulators personally accountable.
“Workers cannot be sacrificed to a corrupt system that gambles away their future,” the EFF said.
