THE Government Institutions Pension Fund has appointed Ongwediva town council member Fabian George as a trustee.
George, a seasoned academic, holds two doctors of philosophy (PhD) in education and in management, a masters in business administration and once served as a sport commissioner.
His appointment comes at the time the fund bids farewell to Stephen Siheso, who has been on the board since April 2018.
According to the announcement by GIPF, George is at the moment a vocational education trainer at the Namibia Training Authority and the Valombola Training Centre at Ongwediva.
GIPF said George has 18 years in leadership positions, and serves on the Ongwediva Town Council as the chairperson of the management committee, and serves as a secretary of marketing of the Namibia National Teachers Union.
It is unclear whether his appointment is to calm some disgruntled members of the civil service on the benefits they get from the pension fund or not.
The fund has a membership of more than 100 000, and pays about N$2,1 billion in monthly pension payouts, according to its 2020 financial statements.
Other trustees who were retained are Faniel Kisting and Nillian Mulemi.
Deputy auditor general Goms Menete who has been on the board since 2013 is still the chairperson. The person to serve longest on the trustee board is Henrich Iita who in November this year will have served a decade as a trustee.
The GIPF is considered one of the healthiest and biggest pension funds on the continent, with assets under management at least worth over 80% of all goods and services produced in Namibia.
Available financial statements show that the fund during the 2020 financial year slacked in ensuring that financials were prepared and submitted to the regulator on time.
Email: bottomline@namibian.com.na
