How To Calculate The Pension Amount

How To Calculate The Pension Amount

Are you an employee pondering how to calculate your pension amount? Having a clue of how to calculate your balance is an important step to take towards your financial security and prepare you for any expense that you may incur when spending your money. This SEO-based article will assist you how to calculate your pension amount.

READ HERE: Where do I find out how much pension I will get?

To Calculate Your Pension Amount You Need To Know These Procedures

• Visit the website to have access to the web calculator
• Choose the Benefit Calculation and press enter to continue the process
• Fill in all the requirements to access the account
• Enter the admission date, exit reason, exit date
• Accept the terms and conditions outlined and proceed
• If the admission date is before 1996/01/05( before the merger of GEPF) select the relevant previous fun code. This is necessary as a down or upscaling will be applied to the period before 1996/01/05
• If the admission date is on or after the previous date this will not be applicable and not be displayed
• Enter all salary periods and salary notches for the last twenty-four months or the whole period if shorter
• Choose ”Calculation Benefits
• View the benefits and clear calculation for the next activity

Formula Used In Calculating Pension Amount

To calculate the pension amount use this formula

• The gratituty:6.72% of the final salary multiplied by the years of service
• Annual annuity: 50% *(1/55* final salary* pensionable service period) +R360

What The GEPF Invests In

There are four main categories that the GEPF invests in they are

• Equities
• Fixed income
• Properties and,
• Isibaya Funds

Client Centre

GEPF Administration Office

Building 2A, Trevenna Campus

Corner Meintjies and Francis

Baard Street

Sunnyside, Pretoria

0001

Frequently visiting your pension payout site helps you get informed about the transaction been made in the last few hours or 24 hours of your pension retirement money. Visit the official website for more details