It appears that the Minister of Finance, Malusi Gigaba, sends different messages about the state’s pension fund, and therefore there is uncertainty about what actually happens.
On a question from FF Plus’s spokesperson, Adv. Anton Alberts is that Gigaba indicated that the public service pension fund is fully funded and able to meet all its obligations to pensioners.
On the other hand, Gigaba plans to throw another R14 billion into SAA’s bottomless pit and wants to do so by selling the state owned shares of Telkom.
By doing so, he “helps” a bankrupt entity and gets rid of one of the state’s better investments at the expense of thousands of pensioners future payouts.
Last month, the FF Plus called on deputy president Cyril Ramaphosa in Parliament to take steps to protect the public service’s pension funds.
In response to a question about the actions taken by Gigaba to protect pension funds controlled by the state and state-owned enterprises, the answer is that the national treasury has been researching the pension funds and called for all public service pension funds to be placed under the control of the Pension Funds Act.
Adv. Alberts said it would mean that members would have access to the regulator for pension funds who could intervene and make independent investigations for any irregularities to protect members’ interests.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
