The Government Institutions Pension Fund (GIPF) currently holds millions of dollars in unclaimed benefits. In terms of GIPF rules, benefits become “unclaimed” where members or beneficiaries fail to claim them for a period of five years after the date on which they become payable. So far, 176 members are still to claim their benefits from the fund.
GIPF provides various benefits to its members, such as Normal Retirement, Early Retirement, Resignation (also applicable to dismissals), Retrenchment, Disability benefit, Ill-Health Retirement, Death, and Funeral benefits.
“These benefits are due when a member is no longer employed, and exits the fund. Every staff member of a participating employer from all government entities as well as participating state-owned entities, and regional and village councils, are entitled to receive pension benefits at the time when they leave employment and cease to be a member of the GIPF. These benefits are guaranteed as per the rules of the fund and therefore, are paid out to members or their beneficiaries once a benefit claim is received by GIPF with all relevant supporting documents,” stated Edwin Tjiramba, GIPF’s general manager for marketing and stakeholder engagement.
He added that the process to claim benefits typically begins at the employer’s human resources’ department, where personnel files are maintained.
“Completed benefit claim forms and supporting documents should be submitted to the GIPF. It is crucial to note that benefits can only be paid once a claim is completed, approved, signed by the participating employer, and submitted to the fund with all required documents,” Tjiramba added.
GIPF further emphasised that it does not appoint agencies or consultants to act on its behalf. As such, members are advised to approach the fund directly for any information related to their benefits. Members are further cautioned that no fees are payable for services rendered by the GIPF, unlike when using the services of a consultant.
“Members are urged to claim benefits that may be due to them to secure their financial futures.”