GIPF invests N$ 956,6 million in Otjozondjupa

The Government Institutions Pension Fund (GIPF) has invested N$ 956.6 million in the Otjozondjupa region.

This was said by Nillian Mulemi, chairperson of the GIPF board of trustees, at the opening of the institute satellite branch in Grootfontein last week.

According to Muleni the opening of the branch was necessitated by the outcry for more accessible services in the Otjozondjupa region and it is aligned to the Funds’ overall corporate strategy to enhance service delivery and stakeholder engagement.

Muleni added that the fund has invested a total of N$956.6 million in the region with over N$20 million invested in the solar rooftop at the Grootfontein Mall, N$91 million in the Grootfontein Shopping Mall and over N$253.1 million in financing 451 home loans.

“No region, town or village is without GIPF members and with our growing membership base which currently stands at over 146 000 members (active and annuitants), we are proud to bring our services closer to over 5000 GIPF members residing in Grootfontein and its surrounding areas,” she said.

The new Grootfontein office is equipped to offer the following services:

• Pension enquiries

• Pension advice

• Biometric registration and verification

• Benefit and Income statements

• Submission of claim forms and supporting documents

Challenges

Muleni also highlighted challenges such as the rapid movement of our members between employers combined with changes in personal circumstances that have presented new challenges to the quality of member data, particularly in terms of accuracy.

“Members do not update their information regularly and this causes an unfortunate delay in the processing of claims. It is of utmost importance for every GIPF member to ensure that their member records are up to date such as their full names, identity numbers, marital status, admission date and beneficiary nomination forms among others,” she says.

She also urged all members to ensure that they reach out to their colleagues to update their details and beneficiary nomination forms regularly.

“Another challenge is that some members are not admitted on our systems, so please contact your nearest GIPF office to confirm that you are admitted. If not, please submit your submission with supporting documents to your Human Resource Officer with haste,” she said.

Muleni says that the Fund has introduced an ongoing campaign to trace beneficiaries, and advised the members to go to the funds' website to see if they or someone you may know is a beneficiary who has not claimed their benefits.

Marlyn Mbakera Chairperson of the Otjozondjupa regional council applauded GIPF on its consistency with its continuous outreach programmes, vibrant member education and media campaigns as well as a proactive response to enquiries to ensure members fully understand their benefits and stop misinformation.

“GIPF being the pension fund with the largest asset base in the country, your services for many years have not been accessible to the public specifically those living in rural communities around the country, therefore I welcome the move for extending your services closer to people,” she said.