Business Report writes that the National Treasury indicated on Wednesday that Minister of Finance Malusi Gigaba intended to resolve the payment of pensions to beneficiaries of the former Venda Pension Fund by the end of November 2017.  

According to a statement, Gigaba said the matter had long been outstanding and needed to be resolved as urgently as possible.  Those affected lost all their retirement money during the amalgamation of the Venda Pension Fund and the First Privatisation Scheme pre-1994 and before the Government Employees Pension Fund came into effect.  The new scheme came into effect in 1993, while payouts by the former Venda government were made in 1992.  Some of the pensioners could not be paid and claimed the payouts had been made "selectively".

• Read this report by Songezo Ndlendle in full at Business Report
• Read the National Treasury’s press statement at Polity

Get other news reports at the SA Labour News home page