The assets of the Government Institutions Pension Fund (GIPF) have increased from N.dollars 844 million in 1990 to N.dollars 118.2 billion since its establishment three decades ago.
GIPF has 102 194 members and provides monthly incomes for 43 105 active annuitants, a media statement availed to Nampa on Wednesday said.
The fund celebrates its 30th anniversary this month, has officially opened on 01 October 1989.
The mission in 1989 was to “provide sustainable market-related pension benefits and excellent administrative services to its members and their dependents,” the statement said.
This mission has evolved over the years to safeguard and grow the fund for the benefit of its members.
“Our members are the core of our business and this has seen our benefits to the members increase to normal retirement, early retirement, resignation, dismissal, retrenchment, disability benefit, ill-health retirement, death benefits and funeral benefits to date,” GIPF Chief Executive Officer David Nuyoma was quoted as saying in the statement.
Nuyoma added that the fund strives to be a leading and model pension fund globally and in order to achieve this, it has over the years persistently worked towards increasing its national footprint.
The fund has also upgraded its offices from a single floor office to the current five-story building in Windhoek, which serves as the head office, complemented by 10 regional offices in Rundu, Katima Mulilo, Outapi, Eenhaha, Oshakati, Ondangwa, Otjiwarongo, Swakopmund, Gobabis, Keetmanshoop and a satellite office in Windhoek at B1 City, to cater to its growing members.