AMAGP Petition Handover to GEPF - 6 Nov 25

A Petition by the Fund Owners to the GEPF Board of Trustees

The Association for the Monitoring and Advocacy of Government Pensions (AMAGP) has launched a petition amongst GEPF members pointing out that the investment mandate provided by the GEPF to the PIC results in under-performing returns on investments (ROI). This is primarily due to political interference in drafting that mandate. The petition urges the GEPF to revisit the said investment mandate.

It is in the public domain that the GEPF received a return on investment (ROI) of 4.9% only in 2023-24. This is a road to sustainability-ruin. The ROI for the Political Office Bearers Pension Fund (POBPF) for 2024-25 - also managed by the PIC - is approaching 13%. The difference: the Minister of Finance has a veto right on the drafting of the GEPF investment mandate to the PIC. At the POBPF, the Minister has no say.

The petition was handed over to the GEPF on 6 November 2025. It is trite law that the real owners of a pension fund are its members whose best interests should be pursued at all times. As for the GEPF and its Board of Trustees: they are but the administrators and/or managers of the fund.

AMAGP's existence centres around ensuring the long-term sustainability of the Government Employees Pension Fund. We will call on the GEPF to seriously consider the issues raised in the petition - it originates from the real owners of the fund who are requesting that their best interests should be prioritised.

Our pension fund is exposed to high-risk investments, resulting in far below average returns on investments compared to other funds, jeopardizing the retirement savings we have all worked hard to build. The outcome of such investments does impact on the long and short-term sustainability of the fund, as we witnessed an increase of only 2.9% of pension benefits this year. It is critical that we act now to demand accountability and protect our retirement security.