GEPF

What Is The Best Age To Retire

Are you a government employee who is wondering about the age of retirement? Or want to know the best age to retire from work. The official retirement age for all government employees is 60 years and above. Some employees are likely to retire at an early age due to health reasons or upon injury suffered while performing work duties.

When going on retirement make sure you consider some factors which include personal goals, financial abilities, and health issues to mention just a few.

READ HERE: How can I check how much money I have in my pension?

Ages At Which Employees Can Retire From Their Duties

Early retirement: For early retirement, the official age is 50 years and above
Normal retirement age: The official retirement is 60 years and above
Traditional retirement: The traditional retirement age is 70 years and above

Benefits Of The Government Employee Pension Funds

Here are some benefits of the GEPF

Retirement benefits
Resignation benefits
Unclaimed benefits
Death benefits
Divorce benefits
Child pension
Spouse pension
Funeral benefits

What Happens To Your Benefits When You Resign Before The Actual Retirement Age

Earlier on, it was understood that you would be paid from the three pots that are from the (Vested, Savings, and Retirement). However, the policymakers have clarified that retrenchment will be treated as a resignation. It means that you will only be obliged to the balance in the vested and savings pots as a cash benefit. The balance in the retirement pot must be preserved within the fund or transferred to another approved fund, with the restriction that you will be able to access these amounts once you have officially retired.

Contact Details

Toll-free number: 08 00 117 669

Fax: 012 326 2507

Email: enquiries @gepf.co.za

Postal Address:

GEPF Private Bag X63, Pretoria

0001

For more information and updates on GEPF don’t hesitate to visit the official website and also leave your suggestion in the provided box.

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