Cosatu wants government workers and private pension funds to bail out Eskom. The labour federation also says the Public Investment Corporation could fork out R250-billion to save the ailing power utility. CourtesyThe labour federation also says the Public Investment Corporation could fork out R250-billion to save the ailing power utility but this, in turn, could mean taxpayers will have to be liable for another troubled state-owned entity.
The labour federation says this won't place employees at risk of losing their retirement money as government will be able to pay the shortfall. "There's a section of business that has not endorsed this. The same people that made money out of the huge financial losses that took place in the 2008 financial crisis. Here you got the crooks in the financial services sector of South Africa wanting to deny South Africa the rights to five to 10-percent of retirement savings," Ehrenreich said.It says the Public Investment Corporation should adopt a similar rescue plan to that of Edcon.
There will be a fight of catastrophic preportions.🌋
Cosatu is anc .they dont care about our hard earned pension.they are the one,s who were suppose to protect our money from going down the drain in state they helping anc to take whats only left for us
Hayini 😧
That's the last of the pension funds.
There, I've fixed it for you.
GEPF's lost much money due 2 mismanagement & bailouts of SAA, Steinhoff & a weird land deal, now u want 2 take more? Did u not c what happened 2 Transnet Pension Fund? Stop stealing from hard working ppl & thos who did so in the past whos only income comes from the pension funds
They must first reduce the bloated workforce and salaries at Eskom
Not our pension money
COSATU please don't annoy us. We are indebted with personal loans because we cannot withdraw in out pension coffas now u want to take our monies to Eskom 🤔
_cosatu is mad.
Cosatu eyes pension fund to enrich IPP's, Glencore, Exxaro and builders of Medupi and Kusile
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