Pension fund hosts member engagement at Ongwediva

The Government Institutions Pension Fund (GIPF) on Wednesday hosted its first-ever Board of Trustees Member Engagement Forum at Ongwediva.

The event brought together more than 200 members and stakeholders for direct engagement on issues affecting the fund.

In a statement issued on Thursday, GIPF says the meeting is part of their efforts to strengthen member engagement and participation on matters of strategic importance.

Chairperson of the board of trustees, Penda Ithindi, says the board fulfils its fiduciary responsibilities by guiding strategy, monitoring performance and upholding the fund’s mandate, while operational management is handled by the executive management.

Ithindi says the pension-backed home loans scheme (PBHLS), which commenced on 12 January, is the most visible example of member-centric reform initiated by the board.

“Operational management is delegated to a qualified executive management team, headed by the chief executive and principal officer, which ensures compliance with the fund’s rules and oversees day-to-day operations,” Ithindi says.

GIPF has over the past three years intensified its focus on member centric initiatives aimed at placing members at the centre of its operations.

“This approach guides our decisions and service delivery, supporting trust and satisfaction through improved digital systems, communication and benefits,” the statement reads.

Under the scheme, members may access loans secured against one-third of their pension benefit, the statement says.

According to Ithindi, the fund has allocated N$900 million to the PBHLS, with loans priced at the Bank of Namibia’s repo rate

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