Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

picFin24 reports that the National Assembly has passed amendments to the Public Investment Corporation (PIC) Act to promote transparency and good governance at the state investment manager.  

The bill was brought before the National Assembly by the Standing Committee on Finance on Tuesday.  Committee member and ANC MP Thandi Tobias explained that the amendments would ensure that no “conspicuous” investments could be hidden, as the Public Investment Corporation (PIC) would be required to table before Parliament the listed and unlisted investments through its annual report.  The bill also provides for labour unions to have a say in the investment of workers' money by having three labour representatives on the PIC board.  The PIC is responsible for managing investments of the Government Employees Pension Fund (GEPF).

  • Read this report by Lameez Omarjee in full at Fin24
  • Read too, Court threat to the PIC from PSA over transparency, at Fin24

Get other news reports at the SA Labour News home page