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.
Netwerk24 reports that Solidarity says it will take the Government Employees Pension Fund (GEPF) to court if it does not comply with the trade union’s request for information about certain of the fund’s investments and investment plans.
Schalk de Bruin, head of special projects at Solidarity, indicated that about 10,000 of their members belonged to the GEPF. They are worried about their pension monies in the light of rumours of ‘state capture’ and the extent of unlisted investments on the part of the fund and the Public Investment Corporation (PIC). The union believes that the percentage of the GEPF’s funds invested in unlisted and development undertakings exceeds the fund’s guidelines for permissible exposure to various investment classes. Solidarity asked for the information as long ago as August in terms of the Access to Information Act. The GEPF and the PIC did not respond to the request within the 30 day stipulated deadline. (Loosely translated from Afrikaans)
- Read this report by Riana de Lange in full in Afrikaans at Netwerk24 (limit on access)
- Read too, Union warns against state’s hijacking of pensions, at Security.co.za (The Star)
- And also, Could pension funds be compelled to invest in infrastructure? at Moneyweb
Get other news reports at the SA Labour News home page