IN CONVERSATION WITH PROF BONKE DUMISANI
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The Government Employees Pension Fund (GEPF) has announced a temporary suspension of the Two-Pot savings withdrawal system. The suspension will be in effect from 7 October to 21 October 2025. During this period, members will not be able to submit new withdrawal applications through the Fund’s self-service platforms.
According to GEPF, the suspension is necessary to update its systems with recently implemented actuarial factors used to calculate members’ benefits. These updates are critical to ensure that withdrawal calculations remain accurate and aligned with the Fund’s long-term financial obligations. Other services and benefit payments will continue uninterrupted during this period. The Two-Pot withdrawal function is expected to resume on 22 October 2025.
The Two-Pot system, which came into effect on 1 September 2024, is designed to give GEPF members flexible access to part of their retirement savings while preserving the majority for long-term retirement security. Under the system:
Savings Pot: One-third of new contributions, which members can withdraw once a year, subject to tax.
Retirement Pot: Two-thirds of new contributions, preserved for retirement and not accessible until retirement age.
The system provides members with the ability to address urgent financial needs without compromising their future retirement security.
GEPF encourages members seeking more information to contact the Fund through its call centre, email, or nearest office:
Call Centre: 0800 117 669
Email: enquiries@gepf.co.za
Website: www.gepf.co.za
According to GEPF, the suspension is necessary to update its systems with recently implemented actuarial factors used to calculate members’ benefits. These updates are critical to ensure that withdrawal calculations remain accurate and aligned with the Fund’s long-term financial obligations. Other services and benefit payments will continue uninterrupted during this period. The Two-Pot withdrawal function is expected to resume on 22 October 2025.
The Two-Pot system, which came into effect on 1 September 2024, is designed to give GEPF members flexible access to part of their retirement savings while preserving the majority for long-term retirement security. Under the system:
Savings Pot: One-third of new contributions, which members can withdraw once a year, subject to tax.
Retirement Pot: Two-thirds of new contributions, preserved for retirement and not accessible until retirement age.
The system provides members with the ability to address urgent financial needs without compromising their future retirement security.
GEPF encourages members seeking more information to contact the Fund through its call centre, email, or nearest office:
Call Centre: 0800 117 669
Email: enquiries@gepf.co.za
Website: www.gepf.co.za
