How Many Years Do You Have To Go To Pension
How Many Years Do You Have To Go To Pension
Knowing your retirement is a very important aspect of financial ability, and knowing how many years you have to access your pension plays a big part in that preparation. Typically the retirement age depends on your country’s retirement age, your current age, and the type of pension plan you have registered for. Understanding these factors helps you to estimate how close you are getting to retirement.
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Steps To Take To Prepare For Pension
Preparing for retirement requires a blend of financial planning and lifestyle as well as your health. Below are the steps to take
- Assess your retirement goal
- Evaluate your financial situation
- Maximize your retirement savings
- Create a retirement budget
Types Of GEPF Pensioners
- Ordinary Pensioners
An ordinary pensioner is a retired government employee who has saved for retirement throughout his or her career by paying monthly contributions to the GEPF. In return, following retirement, a pensioner is guaranteed certain pension and other benefits.
- Medical Pension
These benefits are paid to government employees whose service is ended for medical reasons or because of an injury suffered.
- Military Pensions
Military pensions are paid to members of the South African National Defence Force who are injured or disabled while performing their military service. Benefits depend on the extent of the disability. A gratuity, a once-off cash lump sum, is paid if the degree of the disability is less than 20 percent. Military pensioners are also entitled to medical treatment and appliances for their disabilities.
Eligibility Age For Official Retirement
The official retirement age for government employees is 60 years and above.
Contact Details
Toll-free number: 08 00 117 669
Fax: 012 326 2507
Email: enquires@gepf.co.za
Postal Address: GEPF Private Bag X63, Pretoria
0001
Visit the official website whenever you are finding difficulties with anything relating to GEPF. And don’t forget to write down your suggestion in the box provided below