Home
Newsletters
Media
Reports
Reference
Secure Pension
Join / Donate

AMAGP

Waardestelling

NPO Registration Number 198-822

GEPF Waardestelling – GEPF Value Statement

GEPF Waardestelling

Ironies genoeg het die GEPF hom in sy Jaarverslag van 2021 tot 2022 tot die volgende waardes ten opsigte van sy belanghebbendes verbind. Dit verskyn in die verslag op bladsy 17:

"Ons waardeer integriteit, deursigtigheid, kliënt-gerigtheid, aanspreeklikheid en innovasie."

• Integriteit

Om eties en waarheid getrou te wees.
Om goeie bestuurspraktyke te handhaaf.
Nie wanvoorstellings van inligting te maak of te weerhou, waarop ons belanghebbendes geregtig is nie.

• Deursigtigheid

Om openlik en gereeld met ons belanghebbendes te kommunikeer.
Inligting uiteen te sit in 'n formaat wat duidelik en verstaanbaar is.
Oop te wees vir ondersoek en toesig.

• Kliënt-gesentreerd

Samewerking en samewerkend met ons belanghebbendes.
Omgee.
Behou kliënte fokus.

• Verantwoordbaarheid

Handel met omsigtigheid.
Bekwaamheid.
Vertroulikheid
Betroubaarheid

• Innovasie

Die stryd teen navorsing en ontwikkeling in die aftree-bedryf wêreldwyd.

Bedreigings tot nadeel van die Volhoubaarheid van GEPF

• Die 2 pot sisteem wat GEPF sal ondermyn, met aansienlik minder fondse wat herbelê kan word ('n oortreding van elkeen van die vyf waardes voorheen genoem).
• Isibaya ongenoteerde beleggings wat o.a. fokus op bemagtiging projekte — wat gelei het tot verliese (afskrywings) van R25.3 miljard oor tydperk 2020 tot 2023. (dit is oortredings van die beginsel waardes van integriteit - en aanspreeklikheid).
• Polities-geïnspireerde pogings om die ANC se transformasie beleid by GEPF beleggings toe te pas. Dit is strydig met die 1996 Wet en Reëls vir GEPF wat bepaal dat "alle beleggings tot die beste belange van GEPF lede moet dien." hiermee gooi GEPF integriteit en aanspreeklikheid by die venster uit.
• Voorgeskrewe beleggings deur pensioen en soortgelyke fondse. Die ANC se idee om pensioen fondse te forseer om van hul bates in regerings infrastrukture te belê. Geen beleggings instansie sal dit oorweeg om lang-termyn spaarfondse van amptenare en werkers in bankrot of onstabiele entiteite te belê nie. Die Openbare Beleggings Korporasie wat GEPF se beleggings bestuur sal waarskynlik onder politieke druk hieraan toegee. So 'n stap sal al die voorgenoemde waardes en beginsels op risiko plaas.
• Gebrek aan verantwoordbaarheid en sanksies teen oortreders wie onbehoorlik en oneerlik optree. Beide die Zondo en Mpati kommissies van ondersoek het hul sterk uitgespreek teen oortredings wat plaasvind onder die dekmantel van bemagtiging projekte, waar oneerlikheid en self-verryking dikwels plaasvind; nog erger is.
• Die verskynsel dat belhamels (van korrupsie en geld verduistering) nie vervolg word nie!. (hier is dit duidelik dat beginsels van integriteit, deursigtigheid en aanspreeklikheid nie nagekom word nie).

GEPF Value Statement

Ironically the GEPF have committed itself in its Annual Report of 2021 to 2022 to the following values vis-a-vis its stakeholders. This appears in the report on page17:

“We value integrity, transparency, client-centricity, accountability and innovation.”

• Integrity

Being ethical and truthful.
Maintaining good governance practices.
Not misrepresenting or withholding information to which our stakeholders are entitled.

• Transparency

Communicating openly and frequently with our stakeholders.
Setting out information in a format that is clear and understandable.
Being open to scrutiny and oversight.

• Client-centricity

Working collectively and cooperatively with our stakeholders.
Caring.
Maintaining customer focus.

• Accountability

Acting with due diligence.
Competence.
Confidentiality.
Reliability.

• Innovation

Championing research and development in the retirement industry worldwide.

Threats to the detriment of the Sustainability of GEPF

• The 2-pot system that will undermine GEPF, with significantly less funds that can be reinvested (a violation of each of the five values mentioned previously).
• Isibaya unlisted investments which, among others, focus on empowerment projects — which led to losses (write-offs) of R25.3 billion over the period 2020 to 2023. (This is in violation of the principle values of integrity and accountability).
• Politically inspired efforts to apply the ANC's transformation policy to GEPF investments. This is contrary to the 1996 Law and Rules for GEPF which states that "all investments must serve the best interests of GEPF members." with this, GEPF throws integrity and accountability out the window.
• Prescribed investments by pension and similar funds. The ANC's idea to force pension funds to invest some of their assets in government infrastructure. No investment institution will consider investing long-term savings funds of officials and workers in bankrupt or unstable entities. The Public Investment Corporation that manages GEPF's investments will probably give in to this under political pressure, such a step will put all the intended values and principles at risk.
• Lack of accountability and sanctions against offenders who behave improperly and dishonestly. Both the Zondo and Mpati commissions of inquiry have spoken out strongly against violations that take place under the guise of empowerment projects, where dishonesty and self-enrichment often take place; is even worse.
• The phenomenon that ringleaders (of corruption and money embezzlement) are not prosecuted! (here it is clear that principles of integrity, transparency and accountability are not observed).

Home

Newsletters

Media

Reports

Reference

Secure Pension

Join / Donate

© AMAGP - 2017 - All rights reserved