GIPF announces 5% pension benefits increase effective April

By: Hertha Ekandjo

The Government Institutions Pension Fund (GIPF) has announced a 5% increase in monthly pension benefits, effective 01 April 2026, for all pensioners as well as qualifying spousal and child beneficiaries.

In a statement issued on Monday, the fund said pensions that have been in payment or deferment for less than one year as of 31 March 2025 will receive the increase on a pro-rata basis.

GIPF Chief Executive Officer and Principal Officer, Martin Inkumbi, said the decision was approved by the Board of Trustees during a meeting held on 26 March 2026. The adjustment follows a recommendation from the Fund’s actuary, taking into account the Fund’s sustainability and the current local inflation rate of 4%.

“The Board of Trustees took the decision following an actuarial assessment to ensure the Fund remains sustainable while supporting members,” Inkumbi said.

The Fund noted that the increase aims to provide financial relief and stability to pensioners, while protecting their purchasing power against rising living costs, including expenses related to fuel, food, housing and healthcare.

GIPF further emphasised that it is committed to providing annual inflationary adjustments, as the value of pensions may decline over time due to increasing costs of goods and services.

Inkumbi added that the Fund is in a strong financial position to meet its obligations. “The GIPF took this decision as the Fund is in a favourable financial position to adequately cover its liabilities,” he said.

The Fund’s current policy is to implement pension increases annually on 01 April, targeting between 75% and 100% of the Namibia Consumer Price Index, subject to affordability.

The 5% increase was determined after a comprehensive actuarial review, which considered the Fund’s performance, including its average annual returns over the past five years, as well as its assets and future liabilities.

As of December 2025, the GIPF had 57 314 annuitants receiving monthly pensions averaging N$337 million, translating to more than N$4 billion paid out annually.