By Nkhensani Chauke
The Economic Freedom Fighters (EFF) has urgently called on National Assembly Speaker Thoko Didiza to establish an Ad-Hoc Committee to probe non-compliance with the Pension Funds Act by private security companies and local government municipalities.
This follows Pension Funds Adjudicator Muvhango Lukhaimane warning workers to check whether there is money in their respective pension funds.
The EFF claimed that many of these funds were empty owing to non-compliance with of Section 13A of the Act.
The party raised their concerns with Finance Minister Enoch Godongwana and National Treasury in January already. At the time municipalities owed R1 billion and private security companies R6 billion to pension funds.
“Unfortunately, the minister of Finance and the National Treasury has ignored the EFF for more than eight months, and now the Pension Fund Adjudicator has rung the alarm when it is too late, and we are on the verge of a crisis,“
EFF Parliamentary chief whip Marshall Dlamini said on Tuesday.
He said the call from Lukhaimane came during a “crisis” as workers were starting to realise that there pensions had not been paid after trying make withdrawals since the state’s introduction of the ‘two-pot’ retirement system.
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