The Government Employees Pension Fund (GEPF) has explained why its pensioners do not receive birthday bonuses
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The Government Employees Pension Fund (GEPF) has explained why its pensioners do not receive birthday bonuses.
The fund said that its benefit structure is designed to prioritise inflation-linked annual increases and long-term financial sustainability rather than discretionary lump-sum payments tied to birthdays.
"Different pension funds have different pension payment and increase policies. For example, GEPF has four levels of increases that the Board can declare: the basic increase, a further inflation-related increase, a catch-up increase and a supplementary increase," the fund said.
The fund added that other pension funds may choose to pay a bonus in a birthday month, together with a lower general pension increase or even a lower monthly pension.
"Other pension funds may choose to pay a bonus in a birthday month, together with a lower general pension increase or even a lower monthly pension. Whatever the approach taken, the different methods of paying pensions must be affordable for the specific pension fund. Each pension fund will have its own set of rules and policies that govern benefit payments".
IOL previously reported that the fund confirmed a 3.5% increase for pensioners from April 2026, based on the latest inflation figures. The adjustment is meant to match the rise in the cost of living.
The fund said the increase, which took effect from 1 April 2026, applies in full to pensioners who retired on or before 1 April 2025, while those who retired after that date will receive a pro-rated adjustment based on the number of months they have been receiving a pension.
"Pensioners who retired on or before 1 April 2025 are to receive an increase of 3.5%. Pensioners who retired after 1 April 2025 are to receive a proportionate increase based on the number of months they have been in receipt of pension up to 31 March 2026," the fund said last month.
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