The Government Institutions Pension Fund (GIPF) has announced a 4.62% pension benefit increase, effective 1 April 2022 for all GIPF pensioners.
“By awarding this pension increment, the Fund had to strike a delicate balance by considering the volatile investment returns due to the prevailing COVID-19 pandemic and the geo-political circumstances in Europe, the need to manage expectations regarding pension increases and to ensure that our pensioners live reasonably within inflation parameters,” said David Nuyoma, GIPF CEO and Principal Officer.
“A pension increase serves to cushion pensioners from unexpected changes in their purchasing power and hence the incessant ability to increase members’ benefits annually is driven by the Fund’s collective commitment to guard and grow members’ financial security.”
