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Fin24 reports that trade union Solidarity has served court papers on the Government Employees Pension Fund (GEPF) for unlawfully amending the formula for calculating employees' preservation fund payouts at the time of resignation.
According to deputy chief executive Johan Kruger, civil servants who intended to or had already resigned after the unilateral amendment of the formula took effect on 1 April 2015 have lost benefits worth thousands. He indicated: "Among (other) things, Solidarity has registered a class action on behalf of more than 1.2 million civil servants and would consequently hold the GEPF liable for the unilateral amendments made to the formula.” Solidarity will demand that those who resigned be compensated as if the previous formula still applied.
- Read this report in full at Fin24
- See too, Solidariteit vat staat se pensioenfonds hof toe, at Netwerk24
- Read Solidarity’s press statement in this regard at Solidarity online
Get other news reports at the SA Labour News home page