Finance mister urged to allow workers to access their retirement fund savings to augment what they are getting from TersCosatu has submitted an urgent request to finance minister Tito Mboweni to issue an emergency directive allowing employed workers who are members of retirement funds to access a part of their savings on a one-off basis to supplement Covid-19 Temporary Employer-Employee Relief Scheme benefits.
Ordinarily, such a measure would have required a change in legislation as the minister is not empowered to tamper with retirement benefits. But because the country is under a state of disaster such interventions could be made possible through the gazetting of regulations, the union’s general secretary Bheki Ntshalintshali said on Monday.
I hope Cosatu doesn't give up...people are suffering in this dysfunctional economy but the government refused to have these retirement capitalist release some of their funds cause they r in this together...what's the point if having millions for retirement when you starving today
The retirement funds have been depleted by bad market conditions due to the corona virus. Sorry guys😏
In a country that doesn’t save enough the glorious _cosatu wants to destroy more savings and leave people without pensions when they are old. Don’t worry the state will step in mos.
What will they access at retirement?
What? are the funds still there?
I hope these guys understand the concept of a retirement fund. It’s not a piggy bank you break to go buy lollipop. I hope they don’t mislead their members to kortsge their future.
The same retirement funds that have taken a hit since Feb🤔...
That's stupid, what about uif relief?, what will happen when they actually retire?
Union fees still payable?
Now we are talking! Let’s get the pensions out of the system to avoid the ANC Cadres from expropriating it from us after Covid. We want our money NOW!!!
No
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