Government pensions may be investigated

Die Vryburger

Government pensions may be investigated
Adv. Anton Alberts - Image - Die Vryburger

Deputy President Cyril Ramaphosa has undertaken to consider a proposal from the FF Plus to legislate mechanisms to protect the public service’s pension funds from extortion, said Adv. Anton Alberts, chairman of the FF Plus.

Adv. Alberts wrote to the deputy president in parliament about the problems surrounding public pension funds making it clear that pensioners have reason to fear that their funds can be stripped resembling what happened to Transnet’s funds.

According to Adv. Alberts, the state’s pension fund is not subject to the Pension Funds Act and is also not protected by a pension fund attorney (ombudsman) as in the case of private funds.

He told Deputy President Ramaphosa that it means that the state’s pensioners could turn to legal action if problems arise with their funds. It is a costly and timely process for people who are already financially affected.

Adv. Alberts specifically referred to Transnet’s situation where the funds were severely stripped and caused pensioners to survive on an average pension of R2 500 per month which is less than the basic minimum wage.

Deputy President Ramaphosa replied that it was a good and positive proposal and asked that adv. Alberts makes a written submission on the matter so that it can be properly evaluated. He said it was important that pensioners should have the confidence to know that their fund is well administered and protected. He also stated that the amount of R2 500 received by Transnet’s pensioners should be investigated regarding the Fund’s own provisions.

“If the proposals are not accepted, the FF Plus will try to change the law through a private-law bill,” said adv Alberts.

Read the original article in Afrikaans on Die Vryburger

South Africa Today – South Africa News

SOURCEDie Vryburger