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Why more than 42 000 GEPF members received a smaller pension payment this week

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 The GEPF has noted the concern raised by some pensioners regarding a reduction in their GEPF pension paid out this month.
The GEPF has noted the concern raised by some pensioners regarding a reduction in their GEPF pension paid out this month.
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This week, more than 42 000 members of the Government Employees Pension Fund (GEPF) received a smaller monthly pension than they were used to, after their pay-as-you-earn (PAYE) tax rate was hiked.

The GEPF has 44 576 members who have additional sources of income. Of these, only 2 230 have so far opted out of a new tax rule implemented on 1 October, resulting in a reduction in the monthly pension payment.

In the past, most taxpayers earning more than one pension or a pension and salary income did not have enough PAYE tax deducted, the GEPF said. Each annuity provider or employer applies the tax rates and the tax rebates as if the income they pay is the only income an individual is receiving.

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