The association warned political interference is affecting investment outcomes and leaving some pensioners uncertain about their benefits. AMAGP held its first ever engagement with Free State pensioners at Bobbies Park in Bloemfontein on Friday (16/10). More than 200 pensioners attended the launch of the association’s provincial structure.

Deputy Chairperson of AMAGP Walter Sutton, tetired police officer Maj. Gen. Lerato Molale and Strini Govender AMAGP member. Photo: Kekeletso Mosebetsi

AMAGP chairperson Zirk Gous said the ongoing governance crisis at the Public Investment Corporation (PIC), the investment agency appointed by the Government Employees Pension Fund (GEPF), highlights the need to protect pension fund management from political influence.

He said investment decisions should prioritise the interests of pension fund members. “What we are hoping for is a pension fund that is managed in the best interests of its members. That should be the only criterion when pension funds are invested. At this point, there are problems with political interference, and it affects cash flow and investment returns. We would like the best interests of the fund to be the overriding consideration.”

Gous said AMAGP’s strategy includes expanding its presence beyond Pretoria and establishing structures across the country. The association has established structures in the Eastern Cape, Western Cape, KwaZulu-Natal, and Gauteng, with the Free State becoming the latest province to join the initiative.

Retired Maj. Gen. Lerato Molale, former district commissioner of police in the Lejweleputswa district, welcomed the initiative in the province. Molale emphasised the importance of safeguarding pension benefits, saying he hoped that future generations of public servants would also receive their full entitlements.

AMAGP was established in 2016, during the state capture era, amid concerns about the management of government employees’ pension savings and their exposure to questionable investment strategies. In mid-2025, the association’s concerns about pension fund investments intensified when Gous claimed that more than R33bn in pension savings had been squandered through failed high-risk or politically driven investments, including Daybreak Farms.

The GEPF disputed the claim it had squandered R33bn, stating its assets under management had grown from R127bn when the fund was established in 1996 to R2.38trn as of 31 March 2024, the highest value in its history at the time.

Concerns about pension payments have also affected former municipal employees in the Free State. OFM News previously reported approximately ten former Mangaung municipal employees had been without disability income since July 2024, despite a High Court order directing the Public Municipal Accountants (PMA) to resume payments.

OFM News/Kekeletso Mosebetsi dg

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