Africa-Press – Namibia. The Government Institutions Pension Fund (GIPF) says pension funds should be well managed while protecting retirement savings.
“This is accomplished by intensive and open communication aimed at raising awareness of and imparting information regarding the significance of retirement savings,” Elvis Nashilongo, the GIPF’s general manager of operations said in a statement on Wednesday.
He said pension funds can offer a level of independence, stability, and financial security in the event of a member’s disability, death, or retirement.
“Retirement savings can act as a buffer in some situations, like layoffs, while guaranteeing another source of income,” Nashilongo said.
He said operating efficiency is attained by paying benefits and claims in a timely and accurate manner.
“To achieve efficiency, the GIPF takes into account process optimisation through a well-structured value chain that depends heavily on a number of different partners,” he said.
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