This 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.
Business Report writes that SATBVC, an association of pensioners from Transkei, Bophuthatswana, Venda, and Ciskei (known as TBVC states), has given President Cyril Ramaphosa seven days to effect his instruction to Finance Minister Enoch Godongwana to investigate issues regarding the pensions of the former civil servants or face legal action.
Spearheading the drive is UDM leader Bantu Holomisa. The bone of contention relates to employees who joined the TBVC governments as civil servants in the 1970s, 1980s, and early 1990s. They were told that their pension funds were calculated from 1996, despite their pension fund contributions having been deducted earlier than that date. According to Holomisa, their pension fund monies were contributed to asset management companies such as Sanlam, Old Mutual, and Alexander Forbes. "The money was transferred in 1996 to the Government Employees Pension Fund (GEPF) after it was formed. The GEPF was instructed to take the money and invest it in the Public Investment Corporation (PIC)," he indicated. According to SATBVC, despite Ramaphosa’s promises to deal with the matter, nothing has been done. “I have asked this task team (under the deputy president) to provide a report on this matter and I have also asked the minister of finance to set up a team to look into the issue of pensions for civil servants from the TBVC states,” the President said at the time. Holomisa reported at a press briefing last week that the SATBVC had compiled a report after the president's speech and had sent it to the Minister of Finance, who in turn had said he would give a date for a meeting to go forward. "We haven't heard anything since from Minister Godongwana,” Holomisa reported.
- Read the full original of the report in the above regard by Dieketseng Maleke at Business Report
Get other news reports at the SA Labour News home page