Request for Parliamentary oversight into losses at the GEPF and PIC
Omar Parak sent a message to Public Accounts (SCOPA).
- To
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Public Accounts (SCOPA)
- From
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Omar Parak
- Subject
- Request for Parliamentary oversight into losses at the GEPF and PIC
- Date
- Nov. 19, 2025, 8:56 p.m.
Dear Standing Committee on Public Accounts (SCOPA),
I am writing to request that SCOPA exercise its oversight mandate regarding the significant losses incurred by the GEPF in its unlisted investment portfolio, as well as governance failures at the PIC.
See: https://dailyinvestor.com/investing/111171/billions-lost-from-government-pension-fund/
Given the scale of public funds involved and the long-standing concerns raised by the Mpati Commission and recent criminal investigations, I believe that Parliament should call for a full inquiry into:
1. The causes of the losses and accountability of decision-makers.
2. The implementation (or lack thereof) of Mpati Commission recommendations.
3. Measures to prevent recurrence.
The protection of public servants’ pensions is a matter of national importance, and Parliament’s oversight is critical to restoring institutional trust.
Future replies will be published here.