GIPF raises disability payouts by 5%

The Government Institutions Pension Fund (GIPF) has approved a 5% increase in disability income benefits for qualifying members, backdated to 1 April 2026.The adjustment follows a recent 5% salary increase for civil servants and aims to cushion members unable to work due to disability against rising living costs.A total of 349 pensioners currently receiving disability income from the fund will benefit from the decision.The increase will raise GIPF’s annual expenditure on disability income benefits from approximately N$34.4 million to N$36.1 million Penda Ithindi, chairperson of the GIPF board of trustees, said the decision aligns disability benefits with public service remuneration to help beneficiaries maintain a reasonable standard of living.“This increase reflects our commitment to supporting members who rely on disability income benefits as their primary source of income. By aligning disability benefits with adjustments in public service remuneration, we help protect beneficiaries against the impact of rising living costs and preserve their financial dignity.”The board approved the increase after evaluating the fund’s financial position, inflation trends, and long-term sustainability. The latest consumer price index recorded inflation at approximately 4.19% over the relevant period.Martin Inkumbi, chief executive and principal officer of GIPF, noted that the boost reinforces the fund’s core role in providing long-term financial security for civil servants and their families. The fund reported a surplus of roughly N$46.9 billion as of 31 March 2025, which management confirmed provides a strong buffer to enhance member benefits while safeguarding institutional stability.“Disability benefits play a critical role in protecting members who are no longer able to earn an income due to disability. This increase demonstrates the Fund's commitment to delivering benefits that remain relevant, responsive and sustainable while supporting the long-term welfare of our members and their families.”

GIPF raises disability payouts by 5%

Comments

Namibian Sun 2026-08-14

Please login to leave a comment

GIPF raises disability payouts by 5%

Comments

Namibian Sun 2026-08-14

Please login to leave a comment

Subscription Required to Access Content ×

Login

Subscription Required to Access Content