Government Employees Pension Fund PDF

Government Employees Pension Fund PDF Details
PDF Name	Government Employees Pension Fund PDF
No. of Pages	01
PDF Size	0.17 MB
Language	English
Category	English
Source	www.gepf.gov.za
Download Link	Available ✔
Downloads	17

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Government Employees Pension Fund

Dear readers, if you are searching for Government Employees Pension Fund PDF and you are unable to find it anywhere then don’t worry you are on the right page. The Government Employees Pension Fund (GEPF) is a Defined Benefit pension fund that was established in May 1996, when various public sector funds were consolidated. The Fund’s core business is to oversee pensions and other benefits for government employees in South Africa. The GEPF appoints the Government Pensions Administration Agency (GPAA) to administer benefits on behalf of the Fund and the Public Investment Corporation SOC Limited (PIC) as asset manager to invest on behalf of the Fund.

Government Employees Pension Fund PDF – Tax Benefits 

a) Employee’s own Contribution towards NPS Tier-I is eligible for tax deduction under section 80 CCD (1) of the Income Tax Act within the overall ceiling of Rs. 1.50 lakh below section 80 C of the Income Tax Act. From FY 2015-16, the subscriber is also allowed tax deduction in addition to the deduction allowed under section 80CCD(1) for donation to NPS Tier I account subject to a maximum of Rs. 50,000 under section 80CCD 1(B ).

b) Employer’s contribution towards NPS Tier-I is eligible for tax conclusion under Section 80CCD (2) of the Income Tax Act (14% of salary for central government employees and 10% for others). This rebate is over and above the limit prescribed under Section 80C.

c) Interim/ Partial withdrawal of up to 25% of the contributions made by the subscriber from NPS Tier-I is tax-free.

d) With effect from 1.4.2019, lump-sum withdrawal up to 60% of total pension wealth from NPS Tier-I at the time of superannuation is tax-exempt.

e) Minimum 40% of the amount utilized for purchasing an annuity from the Annuity Service Provider, registered and regulated by the Insurance Regulatory and Development Authority (IRDA) and impaneled by PFRDA is also tax-exempt.

Here you can download the free Government Employees Pension Fund  PDF by clicking on this link.

Government Employees Pension Fund PDF Download Link

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