Government must grant workers access to pension funds to ease struggles and debt, urges Cosatu

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The finance minister will table a bill in November to allow struggling or highly-indebted workers to have access to up to a third of their pension funds by next year.

Ntshalintshali said final details were being engaged upon to achieve consensus.

In terms of the proposal, there will also be a later bill where workers will have access to one third of their pensions in a savings pot, and it is hoped that this may encourage more savings – with the knowledge it will be accessible when there is a need. The federation continues to be highly critical of Treasury, accusing the department of disrespecting ANC resolutions taken at its conference in 2017.

Cosatu also believes there are attempts to water down the mandate to review monetary policy, and to open-endedly delay the implementation of the National Health Insurance.

 

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It true help other people financially freedom

How wish all traders are like LindaStouffes there won’t be any loss of money because I and so many of my friends traded with her and got our profit, thanks once again LindaStouffes

If cosatu is nt bluffing y not shut down da country u have power.dis romantic bt stubborn outside relationship is costly

No one cares about the future if the workers once the become pensioners. If you empty your savings now, what will you do after retirement? Government can't even protect pension funds, howcwill they control this?

I understand the rationale behind this but with our levels of inflation, it will be kicking the can down the road. With our current trajectory, a worker's pension will not even cover basic living expenses when they retire.

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