Today's Labour News

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daEWN reports that the Democratic Alliance (DA) is looking at legal options to block the government from using pension funds to bail out Eskom.  

President Cyril Ramaphosa on Tuesday told a meeting with the SA National Editors’ Forum (Sanef) and others that the government wanted private pension funds to also invest in a revamped Eskom.  The government is already in talks with trade union federation Cosatu about its proposal to use state workers' pension savings to help Eskom cut its R450bn debt by R250bn.  DA chief whip Natasha Mazzone said that the party was consulting its lawyers and added:  "The DA will do everything in our power to stop this from happening - even if we have to go to the highest court in the land.  Eskom is a big, black pit that is incapable of delivering secure and stable energy to South Africans. It is unconscionable that President Ramaphosa would pander to the ideas of trade unions to flush pension funds down an endless hole of debt."  Mazzone went on to state:  "Now it’s clear the government doesn’t only want pension funds of government employees to bail out Eskom, but they also want to go after the pensions of private sector workers.  “In either case, the ANC plans are immoral and irrational. Why should hard-working South Africans lose a lifetime’s worth of savings to save a sinking ship?"

  • Read the full original of the report in the above regard by Gaye Davis at EWN

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