GIPF beneficiaries get 5% increase
Pensioners, children and spouses under the Government Institutions Pension Fund (GIPF) received a 5% pension benefit increase recently.
The increase came into play on 1 Apri and is meant to cushion the pensioners, considering the current volatile economic outlook in the south western African nation, GIPF CEO, David Nuyoma said in a statement.
“The Fund continues to provide guaranteed benefits to members and to protect pensioners’ income from the erosion of the purchasing power of their income,” he said.
According to Nuyoma their commitment to annually increase the pension benefits is tacit proof of their commitment to safeguarding and growing the Fund’ for the benefit of its stakeholders and Namibia.