Two-pot withdrawals on hold as government updates system
The Government Employees Pension Fund is temporarily suspending savings withdrawal applications to upgrade its systems and ensure accurate benefit calculations. Pension savings withdrawals from the Government Employees Pension Fund (GEPF) have been temporarily suspended from October 7 to 20.
According to the fund, the pause is necessary to allow for the implementation of newly updated actuarial factors, key components used to calculate members’ benefits accurately.
“During this period, members will not be able to submit new savings withdrawal applications through the self-service platforms. However, all other benefit payments and regular services will continue without interruption,” they said in their statement.
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The GEPF has apologised for any inconvenience the temporary suspension may cause, thanking members for their patience and understanding as it completes these essential system upgrades.
The savings withdrawal function is expected to be fully reinstated on October 22, once the updates have been successfully completed.
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