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 Members of Parliament (MPs) heard on Tuesday that the Public Investment Corporation (PIC) would table a revised remuneration policy at the next Annual General Meeting with the shareholder - Treasury - in November.  

Executives of the investment corporation, including chairperson Reuel Khoza and acting CEO Vuyani Hako, were briefing Parliament's standing committee on finance on the 2018/19 financial performance.  The matters raised by MPs included staff members holding pickets over caps on bonuses, as imposed by Treasury.  Earlier this month members of the National Union of Public Service and Allied Workers, who work at the PIC, held lunchtime demonstrations at its head offices in Pretoria over poor governance and leadership of the organisation.  According to the union's general secretary, Yongama Mabece, the organisation's remuneration policy was not being followed and this was a governance risk.  The PIC's Hako confirmed that there had been engagements with Finance Minister Tito Mboweni about the bonus caps.

  • Read the full original of the report in the above regard by Lameez Omarjee at Fin24

Get other news reports at the SA Labour News home page