Manage your pension

2019-03-06 06:00

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You may have heard about benefits you can receive from the Government Employees Pension Fund (GEPF) when you retire, but do you know how these are calculated and what they mean in reality?

If you are discouraged and confused by all the turmoil influencing your financial de­cisions, Jenwil BlueStar Financial Advisory Services and Express new conference, “Public servants need to be informed!Know your options!in Bloemfontein, is the answer.

On 10 April we bring you one of the country’s top public sector markets custodians to answer all questions about the opportunities and pitfalls of your pension fund.

The guest speaker is Dinash Pillay of Glacier by Sanlam. He is the national business deve­lopment manager at Glacier and an expert of public sector markets.

According to Rothea and Jean van Biljon of Jenwil BlueStar, the aim of the conference is to empower members of the pension fund with knowledge on how to effectively manage their money.

“You need to know what the different options are so that you can exercise the alternative that suits you and your family best. For example, when there are still minors involved, the GEPF offers excellent child benefits,” Rothea, managing director of Jenwil BlueStar, says.

Jean, Jenwil BlueStar’s financial planner, adds that you have to take into con­sideration that:

  • 80% of public servants who retire die in the first five years of their pension;
  • most of the public servants retiring are black and most of them wish to leave a legacy (intergenerational wealth);
  • at death in retirement; the GEPF has a five-year guaranteed period for death claims. The death benefits calculated is based on the income tax of the remaining prorate months (based on the income of the remainder of the five-year period) and calculated based on the income and not the capital left at the GEPF. (At death, after five years no death benefit is paid and the capital left at the GEPF is forfeited to the fund).

One of the important dis­cussions at the conference is the pros and cons of early retirement as announced by Minister of Finance Tito Mboweni.

The conference is open to the public.

It is held on 10 April at 17:00 for 17:30 at the BON Hotel Bloemfontein Central.

Attendance of the conference is free of charge, but bookings are essential. A light meal will be served afterwards. Secure basement parking is available.

To book a place at the conference, call Cassey-Lee Labans or Trish Rodrigues on 051-447-0463 or send an email to office@jenwil.co.za.

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