Announcements

Board & Governance Matters EPPF Related Matters Investment Related Matters Topical Issues

NEW EPPF BOARD APPOINTMENTS

I am pleased to announce the appointment of the Fund's new Chairman and Board of Trustees whose term of office started on 1 July 2020. The EPPF is governed by a Board of Trustees comprised of 14 members, which include employer-appointed, member-elected, and pensioner-elected members. This Board will be led by Ms Caroline...
28 July, 2020

Trustee Elections 2019/20 results announcement

The below communication has been revised to correctly reflect that elected trustees represent the interests of all members. The Eskom Pension and Provident Fund (the "EPPF" or "Fund") is governed by a Board of Trustees consisting of 14 Board Members, seven of whom must be elected by members and pensioners of...
15 April, 2020

Trustee Elections : Voting phase

Dear Member/Pensioner On 2 January 2020, the voting phase of the EPPF Trustee Elections commenced. We are calling on all members and pensioners to make their mark and vote for the candidate that they want to represent them on the Board of Trustees. In the communication distributed on 20 December 2019, the...
06 January, 2020

Trustee Elections 2019/20

The Eskom Pension and Provident Fund (the "EPPF" or "Fund") is governed by a Board of Trustees consisting of 14 Board Members, seven of whom must be elected by members and pensioners of the Fund. The elected trustees will serve on the Board of Fund from 1 June 2020 and will represent the...
04 June, 2019

Board announcement to stakeholders

It is with regret that the Board announces that Ms Nopasika Lila has resigned as Chief Executive and Principal Officer of the Eskom Pension and Provident Fund. Ms Lila has indicated that after thorough introspection she took a personal decision to move on.  Since her arrival in 2010 as Chief...
22 January, 2019

Bonus and Pension Increase Announcement 2018

Each year the Board of Trustees (“the Board”) of the Eskom Pension and Provident Fund (“the EPPF” or “the Fund”) determines an annual pension increase, in accordance with the Fund’s pension increase policy. It is also the Fund’s established practice to pay a once-off pensioner bonus. The...
27 November, 2018
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THE ENHANCED EPPF MOBILE APP FINALLY HERE!

Dear Member/Pensioner, Our enhanced mobile app is now live. To celebrate this, we have an exciting competition that will help you get acquainted with the enhancements to the mobile app. Find out how the mobile app can help you with access information at your fingertips by clicking here to...
10 September, 2021

Amended Fund Rules

Dear Member/ Pensioner, The Eskom Pension and Provident Fund (“EPPF” or “the Fund”) has amended its Fund Rules, effective 1 April 2021. The Rules were amended and submitted to the Financial Sector Conduct Authority (the “FSCA”) in the first quarter of 2021, and the FCSA has subsequently approved the Rules. Why the change? ...
12 August, 2021

Update: Impact of recent social unrest

Dear Member/Pensioner,   As a significant institutional investor within the South African economy, The Eskom Pension and Provident Fund (“EPPF” or “the Fund”), has been closely monitoring the impact of the recent social unrest which has sadly led to a loss of numerous lives and damage to a significant...
28 July, 2021

EPPF Operations - impact of protests

During the COVID-19 pandemic and the various stages of lockdown, the Eskom Pension and Pension Fund (‘EPPF’ or ‘the Fund’) has focused on ensuring minimal disruption to our operations so that we continue to serve our members and pensioners. Over the last few days, the Fund has been impacted by...
13 July, 2021

2021 Tax Certificate re-issue

Dear Pensioner, The Eskom Pension and Provident Fund ("the Fund") distributed your electronic tax certificate for the 2021 Tax Year on 1 July 2021. Due to challenges experienced during the production of the certificates, the documents need to be re-issued with corrections. To allay your concerns regarding the re-issuing of the certificates, we...
08 July, 2021

Scam alert warning

Please be aware that a fraudulent message has been circulated to EPPF pensioners claiming that some members have won prizes in a competition run by the EPPF. The EPPF is currently not running any competitions for pensioners or any member group. The Fund will always communicate clearly if there is...
26 May, 2021

EPPF Message from the Chief Executive and Principal Officer

Dear Member/Pensioner, As we draw deeper into the Winter, and having completed my first full month as Chief Executive and Principal Officer of the EPPF, I wish to take this opportunity to express my sincere gratitude for the overwhelming messages of support from you, the Fund’s most important...
21 May, 2021

MEMBER UPDATE – APRIL 2021

Dear Member/Pensioner The Eskom Pension and Provident Fund (EPPF) would like to provide the latest information on several matters relating to the Fund. Update on EPPF operations The Fund’s operations have been affected by the pandemic since March 2020, following the advent of a full country-wide lockdown mandated by...
29 April, 2021

EPPF appoints new Chief Executive and Principal Officer

The Eskom Pension and Provident Fund (EPPF) Board would like to take this opportunity to bid farewell to an exemplary leader and welcome an able successor. “We would like to thank Ms Linda Mateza for her fearless, but gracious leadership over the last 19 months. Your courage, dedication and decisiveness during...
31 March, 2021

Member Update: Business Maverick reporting

Dear Member, We communicated previously that the Eskom Pension and Provident Fund ("the EPPF" or "the Fund") had been the subject of a series of negative reports by the Business Maverick over the past twelve months. The Fund has ensured that we provide corrections and context where appropriate, and even...
10 February, 2021

2020 Integrated Report

The Eskom Pension and Provident Fund (EPPF or the Fund) is honoured to present this year's Integrated report themed "70 years of caring, value and investment". The 70th anniversary integrated report is centred around the Fund's service, milestones, impact, featuring short case studies on how the Fund has made a...
15 December, 2020

Member Update: EPPF’s digital transformation journey

Latest developments on the new system Our new administration system has now been in operation since May 2020. During the implementation of the new system, Internal Auditors were appointed to provide assurance that the implementation was done by the book by those involved in the project. A clean bill of health...
06 October, 2020

UPDATE – BUSINESS MAVERICK REPORTING ON EPPF SANCTIONED BY PRESS COUNCIL

The Business Maverick has published several damaging articles about the Fund since January 2020, making various allegations against it. Due to the sensitive nature of these articles, and the reputational risk they posed to the Fund, the Board and executive management decided that swift action needed to be taken.   The...
10 September, 2020

Announcement: COVID-19 relief special bonus for EPPF pensioners

The COVID-19 pandemic, which started as a global health crisis, has also become a global economic crisis. There have been more than 97 000 confirmed cases of the virus in South Africa so far, and the consequences have been far-reaching for the country's economy. The EPPF has considered that the current crisis...
24 June, 2020

Announcement - Eskom Employee Benefits department

The Eskom Pension and Provident Fund ("EPPF" or "the Fund") has been advised by Eskom Holdings SOC Ltd ("Eskom") that the Employee Benefits department has been closed. The department previously assisted EPPF pensioners with compulsory death benefit and top-up medical aid queries. Process for queries As a result of the...
22 May, 2020

EPPF changes to new pension administration system

Advanced digital solutions are constantly improving the delivery of services to customers in every aspect of daily life. As the second largest pension fund in South Africa in terms of membership and asset size, the Eskom Pension and Provident Fund has been working to update our pension administration platforms so...
06 May, 2020

UPDATE: EPPF OPERATIONS DURING THE 21 DAY NATIONAL LOCKDOWN AS A RESULT OF COVID-19

On 23 March 2020, President Cyril Ramaphosa announced drastic measures to contain the spread of Coronavirus (COVID-19) - including a nationwide lockdown for 21 days with effect from midnight on Thursday, 26 March to Thursday 16 April 2020. The national lockdown will effectively confine people to their homes except under strictly controlled circumstances, such as to...
25 March, 2020

Employee Profile: meet Tetelo Mabona

Position: Investment Analyst   “The recipe behind my success is always being ready to grasp opportunities that present themselves,” says Tetelo Mabona, Eskom Pension and Provident Fund (EPPF) investment analyst.  “I’m still exploring things,” says Tetelo, who was clutching a BCom Honours degree in Investment Management when she...
23 October, 2019

Appointment of Ms Linda Mateza as EPPF Chief Executive and Principal Officer

The Eskom Pension and Provident Fund (EPPF) Board is pleased to announce the appointment of Ms Linda Mateza as the new EPPF Chief Executive and Principal Officer. She will take up her position on 1 September 2019. Mateza, who has worked as the Head of Investments and Actuarial Services at the Government...
26 August, 2019

Eskom Pension and Provident Fund (EPPF) appoints first-ever female Chief Executive and Principal Officer

The Eskom Pension and Provident Fund (EPPF) is proud to announce the appointment of the first-ever female Chief Executive in the history of the Fund. The EPPF Board of Trustees has appointed Ms Nopasika Lila as the new Chief Executive and Principal Officer of the Fund effective 1 April 2018. The Board...
24 April, 2018

Update: Unauthorised Debit Orders

There have been some developments with regards to the unauthorised debit orders that affected some EPPF Pensioners around 31 May 2017. The EPPF was awaiting feedback from all stakeholders to ensure that we can provide our members with more accurate and consolidated feedback. Our last update on the matter, sent out on 20...
17 November, 2017

2021 Pensioner increase and bonus

Each year the Board of Trustees ("the Board") of the Eskom Pension and Provident Fund ("the EPPF" or "the Fund") determines an annual pension increase, in accordance with the Fund's pension increase policy. At this time of year, the Board also considers the payment of a once-off pensioner bonus. ...
30 November, 2020
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EPPF COVID19 (CORONAVIRUS) MEMBER UPDATE

The President of the Republic of South Africa has declared the Covid-19 (Coronavirus) pandemic a national disaster, and the EPPF recognises the importance of limiting the spread of infections. The EPPF has implemented precautionary measures to protect the health of its members and employees, while ensuring minimal disruption to Fund...
18 March, 2020
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2019 PENSIONER INCREASE AND BONUS

Each year the Board of Trustees ("the Board") of the Eskom Pension and Provident Fund ("the EPPF" or "the Fund") determines an annual pension increase, in accordance with the Fund's pension increase policy.  At this time of year, the Board also considers the payment of a once-off pensioner bonus. ...
28 November, 2019
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Bonus and Pension Increase Announcement

Each year the Board of Trustees (“the Board”) of the Eskom Pension and Provident Fund (“the EPPF” or “the Fund”) determines an annual pension increase, in accordance with the Fund’s pension increase policy. It is also the Fund’s established practice to pay a once-off pensioner bonus. The pension...
17 November, 2017
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EPPF INVESTMENT PERFORMANCE UPDATE (Q1, 2021)

The Fund’s assets have been growing in a stable way, with all months in the first quarter of 2021 registering positive gains when compared to the previous month. The Fund’s quarter opening asset value was R153.9 billion and quarter closing asset value was R163.8 billion. In this quarter, the...
11 May, 2021

IMPACT OF CORONAVIRUS (COVID-19) AND THE RATINGS DOWNGRADE ON THE EPPF INVESTMENT PORTFOLIO

Investment performance is impacted, either negatively or positively, by a number of factors on the global and local fronts. Globally, the Coronavirus pandemic is having a huge effect on the economy worldwide - resulting in a slowdown of global markets. Locally, the announcement of a sovereign credit ratings downgrade of...
03 April, 2020

RESPONSE TO MEDIA ARTICLE ON EPPF’S INVESTMENT IN MPANDE PROPERTY FUND

TheFund has a sound investment decision-making process that requires thatinvestment proposals are approved (or declined) by the Strategic Investment Committee(“SIC”), which reports to the Board of Trustees (“the Board”). There is propergovernance to ensure that decisions cannot be influenced by a single person andthe EPPF portfolio has no investments...
02 March, 2020

EPPF calls for asset owners to promote transformation at the third EPPF Transformation Breakfast

The third Eskom Pension and Provident Fund (EPPF) Transformation Breakfast was successfully hosted at Summer Place in Hyde Park, Johannesburg, on 13 June 2019.   The regular breakfasts are part of the EPPF’s continued commitment to drive transformation in the financial services sector, showcasing the Fund’s revised broad-based black economic...
14 June, 2019

The EPPF Transformation Breakfast

The EPPF Transformation Breakfast was held on the 23rd March 2018 at Summer Place in Hyde Park. The successful and informative breakfast event was aimed at showing others in the asset management sector that transformation goes hand-in-hand with performance. To view the presentation from the EPPF team, please click on the...
19 July, 2018

EPPF’s Affordable Housing Investment to Positively Impact SA’s Development

The EPPF is pleased to announce that on 8 April 2014 it signed an agreement to commit R100m to International Housing Solutions (IHS) as part of the financing for a project to build 20 000 affordable homes across South Africa. The EPPF is proud to partner in this endeavor with IHS, which is...
01 September, 2017

EPPF hosts PEWIN breakfast roundtable

The Private Equity Women Investor Network (PEWIN) breakfast roundtable took place on Thursday, 3 October 2019 at the EPPF Head Office in Bryanston. PEWIN is the pre-eminent organization for senior women leaders in private equity. They provide opportunities to network, share ideas, make deep connections with peers, and empower others to succeed. ...
04 October, 2019
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Withdrawal of retirement savings by active members

Dear Member, The Eskom Pension and Provident Fund (“EPPF” or “the Fund”) is aware of media reports published where the Finance Minister, Tito Mboweni, made reference to discussions around a “proposal for limited withdrawals from retirement funds for those who lost part of their income during the COVID-19 pandemic”. The...
29 July, 2021

Member Regulatory Update

Dear Member, In this bulletin, we share some changes and draft regulatory changes that may be of interest to you. Provident Fund retirement changes There are generally two types of occupational retirement funds that employers make available to their employees for retirement saving purposes. These are pension funds or provident...
22 April, 2021

EPPF and Global ASP matter

Global ASP is the current systems provider to EPPF, providing the core administration, data and accounting systems to EPPF (Pension Administration System) under an 8-year contract which expires on 30 April 2020. As part of the contract termination process, both parties engaged in a process whereby Global ASP as outgoing service provider,...
28 April, 2020

EPPF Member/Pensioner Update - Message from the Chairman

Dear Members and Pensioners The Eskom Pension and Provident Fund ("EPPF" or "the Fund") is a self-administered defined benefit pension fund that has approximately 80,000 members (active members and pensioners). The Fund is a separate legal entity from Eskom Holding SOC Limited with its own governance and management structures. The Fund...
01 February, 2020

Media report on EPPF administration

Dear Members and Pensioners, We hope you enjoyed the festive season and wish you a prosperous 2020. You may have seen media reports about the EPPF's pension administration. These reports are inaccurate, and we would like to provide you with the correct information and background to the Fund's current actions regarding...
10 January, 2020

Former Eskom GCEO pension pay-out update

Dear Members and Pensioners In recent months, the matter of the former Eskom GCEO pension pay-out has been garnering extensive media coverage. The matter seems to be nearing its conclusion and the board of the Fund is working to resolve the matter sooner rather than later. The Fund is fully...
23 December, 2019

Supreme Court of Appeal ruling on former Eskom GCEO pension pay-out case

The matter of the pension pay-out of the former Eskom GCEO, Mr Brian Molefe, has been ongoing since early 2017 when the Eskom Pension and Provident Fund (“EPPF” or “the Fund”) was cited as the respondent in a matter brought by Solidarity against Eskom. There have been subsequent developments since the...
07 May, 2019

THE POSITION OF THE FUND ON PRESCRIBED ASSETS

In its election manifesto, the governing party outlined a plan to “investigate the introduction of prescribed assets on financial institutions’ funds to mobilise funds within a regulatory framework for socially productive investments (including housing, infrastructure for social and economic development and township and village economy) and job creation while considering...
27 March, 2019

High court ruling on former Eskom GCEO pension pay-out case

The Eskom Pension and Provident Fund (“EPPF” or “the Fund”) was cited as the 5th Respondent in a matter brought by Solidarity against Eskom. The 21 Respondents in the matter, among others, included Mr Molefe, Eskom Holdings SOC Ltd as well as Board Members of Eskom. The application sought for the...
08 February, 2018

Impact of Steinhoff International on the EPPF

Background The dramatic collapse of the share price of Steinhoff International ("SNH" or "Steinhoff") since last Friday, 1 December 2017, has been very topical. This update seeks to provide the stakeholders with information about the impact of this decline on the value and financial position of the Fund.   Context The story...
07 December, 2017

Advice: Take a stand against fraud and protect yourself

Fraud is a big concern in the retirement fund industry, costing millions and leaving victims frustrated and in other cases even destitute having been swindled off lots of money. Having left a trail of deceit, these fraudsters immediately move on to their next scam, prying on often unsuspecting and desperate...
23 November, 2017

Update: Former Eskom GCEO pension pay-out

Update: Former Eskom GCEO pension pay-out 17 November 2017 As you may have observed in the media, on 20 October this year, the EPPF (‘Fund’) appeared before Parliament’s Public Enterprises Committee which has been tasked with the  Inquiry into alleged state capture at 3 State-Owned Enterprises (the SOEs). Although this ongoing Inquiry...
17 November, 2017

EPPF COVID19 (CORONAVIRUS) MEMBER UPDATE

The President of the Republic of South Africa has declared the Covid-19 (Coronavirus) pandemic a national disaster, and the EPPF recognises the importance of limiting the spread of infections. The EPPF has implemented precautionary measures to protect the health of its members and employees, while ensuring minimal disruption to Fund...
18 March, 2020
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