B2B Central

Cosatu

12 Feb 2020

'Oppose pension capture!'

By Janice Roberts

Trade union Solidarity has started a legal process to stop what it calls "the capture" of public servants’ pensions. In a letter to the Government Employees Pension Fund (GEPF) as well as the Public Investment Corporation (PIC), Solidarity’s legal team has demanded that the Trustees and the Board of these institutions should not accept the controversial plan to finance Eskom from the GEPF.

11 Feb 2020

Does Cosatu’s plan for Eskom make sense?

By Janice Roberts

On February 3rd, the Congress of SA Trade Unions (COSATU) - which forms a tripartite alliance with the ANC and the SA Communist Party - announced a plan to fix Eskom's balance sheet issues, recommending that R254bn of Eskom's total debt of R464bn be transferred to an SPV (special purpose vehicle) formed between the PIC, other South African DFIs (the Industrial Development Corp. (IDC) and the Development Bank of South Africa (DBSA)) and private lenders.

29 Jan 2020

DA rejects COSATU’s proposal for workers' pension funds to bail out Eskom

By Janice Roberts

The DA says in a statement that it rejects outright a proposed plan by COSATU to ask the Public Investment Corporation (PIC) to avail R254 billion to clear half of Eskom’s debt. “We will therefore write to the Minister of Finance, Tito Mboweni, and the acting PIC CEO, Vuyani Hako, challenging them to publicly reject the...
06 Oct 2017

Minister Gigaba concerned about 'politicising' of PIC

By Janice Roberts

The Minister of Finance, Malusi Gigaba, is concerned about the politicising of the Public Investment Corporation (PIC), the National Treasury says in a statement.
01 Feb 2016

Retirement Reforms: Good news for most South Africans

By Janice Roberts

Payroll administrators need to start preparing their business systems, processes and workforces for the implementation of the National Treasury’s long-awaited retirement reforms during the next tax year (2016-2017).