Staff Writer
The Government Institutions Pension Fund (GIPF) has announced a 5% increase in monthly pension benefits, effective 1 April 2026, for all pensioners, as well as qualifying spouses and child beneficiaries.
In a statement released on Monday, GIPF said pensions that have been in payment or deferment for less than a year as of 31 March 2025 will receive the increase on a pro-rata basis.
Chief executive officer Martin Inkumbi said the decision was taken by the Board of Trustees at its meeting on 26 March 2026, following a recommendation from the Fund’s actuary. The recommendation, he said, was based on the Fund’s sustainability and local inflation of 4%.
Inkumbi said the 5% increase is intended to provide financial relief and stability to members, while protecting their purchasing power against the rising cost of living.
“The GIPF took this decision as the Fund is in a favourable financial position to adequately cover its liabilities,” he said.
He added that the fund remains committed to protecting retirees and beneficiaries.
Inkumbi said the Board of Trustees has consistently matched or exceeded inflation-linked increases in line with the National Consumer Price Index (NCPI), reflecting prudent investment management, strong governance, and sound risk management practices.
According to GIPF, the increase follows a thorough actuarial assessment, which considered the Fund’s average annual returns over the past five years, as well as its current and future liabilities and asset base.
The fund said it will continue to prioritise the needs of its members to reduce their dependency on government, family, and broader society.
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