Dear Standing Committee on Finance,

I am a GEPF Pensioner and was most disappointed in the 2.9% increase offered to GEPF Pensioners in 2025.

With everything increasing by far more than even 5% I was astounded tjhat even when the GEPF investments are producing oustanding returns pensioners are still expected to accept an increase far below salary increases as well as below the annual inflation rate,

Its a sad state of affairs when GEPF and Govt finds it acceptable for pensioners to have their meagre incomes further reduced by inflation, which should not be the case. In essence every year our pensions are able to buy less and less until eventually our standard of living will deteriorate to the point of forcing us to seek employment to make ends meet.

I all fairness I expect the annual increase to at least keep pace with inflation. Anything less means our income is being eroded. Whilst I am aware of the GEPF rules that commit only to 75% of inflation, I begin to ask how is that rule fair? Are we expected to gradually lower our standard of living and downsize year after year to keep pace with a reducing income. Surely our retirement years should be enjoyable and free of financial stress.

I therefore urge the Finance Committee to please look into this and review the 75% of inflation rule as it is an unfair and unjust rule that needs to be corrected. In fact GEPF increases should be linked to the increases offered to public servants as that is the increase that is fair. eg. We received 2.9% increase on a very meagre monthly sum, whilst Public Servants are offered 5.5% increases. How can this be fare? Especially when you consider the amount of our pension to our original salaries. Or it should be linked to the % growth the PIC is able to generate on an annual basis.

The current rule ensures that we become poorer the longer we live. Surely any reasonable person can see that this does not sustain us as expected.

If I have written to the incorrect Portfiolio Committee I apologise and request that you please forward this message to the Portfolio Committee that has powers to ammend the GEPF rules.

I look forward to this rule being further debated .

Thank you for taking the time to read my submission.