GEPF Temporarily Halts Two-Pot Withdrawal Applications for Essential System Upgrades
Pretoria, 07 October 2025 – The Government Employees Pension Fund has announced a short pause in processing new savings withdrawal applications under the two-pot retirement system. This break, from 07 October to 21 October 2025, is needed to update the fund’s systems with new actuarial interest factors. These changes will help make sure members get the right benefits calculated accurately. While the hold might frustrate some, GEPF says it is a must to keep things fair and up to date. Members can still handle other benefit payments as usual during this time.
This step comes after a busy start to the two-pot system on 01 September 2024, where thousands rushed to access their savings. As South Africa’s biggest pension fund for public workers, GEPF handles billions in claims, and this upgrade aims to smooth out future withdrawals. For now, patience is key, but the fund promises quick restarts on 22 October 2025.
The notice highlights GEPF’s focus on getting things right, even if it means a brief wait. With over 1.2 million active members, any system tweak affects many lives, from teachers to nurses.
Why the Pause and What It Means for Members
The suspension lets GEPF load new actuarial interest factors into its systems. These factors are like math tools used to work out what members get when they leave their jobs or retire. The updates kick in from 01 October 2025, based on fresh data to keep calculations spot on.
During this time, no new savings withdrawal forms can be sent in through online portals or offices. But if you already applied before 07 October, your request should still go through without issues. Other services, like retirement payouts or death benefits, keep running as normal.
GEPF sincerely apologises for any inconvenience this may cause and appreciates members’ patience and understanding as we complete these important updates. The savings withdrawal functionality will be reinstated on 22 October 2025, once the updates have been successfully completed.
This break follows a strong start for the two-pot system, where GEPF and other funds saw billions in claims. Many members pulled out their “seed capital” – up to R30,000 from old savings – to ease money worries.
Quick Guide to the Two-Pot Retirement System
The two-pot setup, launched on 01 September 2024, changes how you save for retirement. It splits your pension into three parts:
- Vested pot: All your savings before 01 September 2024 stay locked until you retire or leave your job.
- Savings pot: Gets one-third of new contributions after launch, plus seed capital (10% of old savings, up to R30,000). You can pull out once a year, at least R2,000, taxed as income.
- Retirement pot: Takes two-thirds of new contributions, locked until retirement for a steady income later.
This aims to let you tap savings in tough times without quitting your job, but still build a solid nest egg. For GEPF members, it means better access while keeping most funds safe.
Since rollout, funds like GEPF have handled massive requests, with some topping R15 billion in claims. But glitches, like system overloads, have caused delays for some.
How the Actuarial Updates Fit In
The new actuarial factors, effective from 01 October 2025, tweak how benefits are figured out. They come from updated assumptions on things like life expectancy and investment returns. This ensures payouts are fair and sustainable.
Without this pause, new withdrawals might use old factors, leading to wrong amounts. The two-week hold gives time to test and roll out the changes smoothly.
Members facing urgent needs should reach out to GEPF for advice on other options, like loans against their fund if available.
What Members Can Do During the Suspension
For further information, members are encouraged to visit the GEPF website, contact the Call Centre, or reach out to their nearest GEPF Office. - Call: 0800 117 669
- Email: enquiries@gepf.co.za
- Website: www.gepf.co.za
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