Today's Labour News

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psaEWN reports that the Public Servants Association (PSA) has written to the Public Investment Corporation (PIC) requesting information regarding the number of Steinhoff shares purchased by the body on behalf of the Government Employees Pension Fund (GEPF).  

The PSA’s Tahir Maepa said they have requested the information to assist them with the planning of a class action against the retail giant.  “We have requested the PIC to provide us with information on the number of shares purchased in Steinhoff and when they were purchased.  We also want to know at what price the shares were purchased,” Maepa indicated.  According to the union, more than R12.5 billion in public servants' pensions were lost when Steinhoff’s value dropped by R194 billion following allegations of fraud last year.

  • This report by Graig-Lee Smith is at EWN
  • Read the PSA’s press statement in this regard at PSA online

Get other news reports at the SA Labour News home page