National
EFF adds voice to outcry over PIC funds─── 07:49 Sat, 23 Sep 2017
The Economic Freedom Fighters (EFF) has added its voice to that of the Congress of South African Trade Unions (Cosatu), the Federation of Unions of SA (Fedusa) and the Public Servants Association (PSA) in calling for vigilance to prevent workers'
pension funds managed by the Public Investment Corporation (PIC) from being used to bail out struggling state-owned enterprises (SOEs) like South African Airways (SAA).
The PIC oversees about R1.86 trillion, which mainly consists of state employees’ retirement savings.
The EFF also wants Finance Minister Malusi Gigaba to be stripped of what it calls his unilateral powers to appoint board members to the PIC.
The EFF called on both Cosatu and Fedusa to demand fair representation on the board of the PIC, so that they have a strong voice on the prudent management of their members’ pension funds.
