by Hennie Heymans | Mar 4, 2026 | AMAGP -, Maj-Gen SJ Nelson, SOUTH AFRICAN FORCES HISTORY PRESERVED | 4 comments
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That’s a really interesting update on the GEPF trustee selection. It’s good to see Maj-Gen Nelson being considered.
Thank you for your post.With his experience and involvement over the years in different government structures I feel will be a suitable candidate to fill the post,providing the he will place our pensioners interest high on his agenda.
Who is the “we” that suggested him? Is he also going to enjoy the position and then forget he represents us, like the previous guy?
Adam,
The ‘we’ is Amagp who is a NPO which concerns itself with the good management of the pension fund for state employees. We monitor their investment practices and give publicity to any impropriety.
The position of the person elected as trustee by pensioners is governed by the principle of fiduciary duty: he must at all times act in the best interest of the fund. He may not speak out of the proceedings + functioning of board meetings – an internationally accepted principle. He has no duty to take instructions from his ‘voters’ If he does, he may be suspended. We believe that he may consult his ‘voters’ and may take that into the board for the board to consider.
The board consists of 16 members which take majority decisions – he as single trustee has no veto power.
We must elect the most competent candidate. His task is to ensure integrity in investment policy + execution and present motivations for that so rational that the board will agree with him. He can never ‘out-shout’ the board but he can ‘out-think’ the board.
We trust genl Nelson to do that.