Absa takes over from Standard Bank as custodian of South Africa’s R3.5 trillion pension fund

• Absa has taken over as the Master Custodian for the Government Employees' Pension Fund (GEPF), which manages R3.5 trillion in assets.
• The GEPF supports over 1.2 million active members and more than 565,000 pensioners and beneficiaries, making it Africa's largest pension fund.
• Absa's appointment as Master Custodian is expected to improve governance, transparency, and oversight of the Fund's assets, protecting the long-term interests of its members.