The assets of the Government Institutions Pension Fund (GIPF) have grown to N$167 billion.
The fund has received a total of N$4.8 billion in contributions, while N$6.3 billion was disbursed in benefits to active annuitants.
Speaking during the launch of the fund’s report, GIPF board chairperson Penda Ithindi said it has a well-invested asset class.
“The fund’s investment return has increased with 13.2% to N$18 billion, compared to an increase of 7.7% (N$6.5 billion) in the prior year,” he said.
Ithindi said active membership has increased by approximately 2.24% when compared to a decrease of approximately 3.4% during the previous financial year.
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