Johannesburg, 18 Dec 2002
Alexander Forbes Financial Services announced today it had won the tender to provide actuarial services to the R250 billion Government Employees Pension Fund (GEPF).
The company`s MD, Howard Walker, says the appointment by Finance Minister Trevor Manuel, in his capacity as interim trustee of the GEPF, is a major achievement for the company, which recently announced the sale of 30% of its South African business to an empowerment company controlled by Millennium Consolidated Investments (MCI).
"The sale of 30% to the MCI consortium was a significant development for the group in South Africa and we believe securing the tender for the GEPF is the first of many opportunities the newly empowered Alexander Forbes will enjoy," he says.
The GEPF has over 1.25 million members and pensioners. It was formed in May 1996 by the amalgamation of eleven previously designated homeland government pension funds.
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