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Regional win – Gazette Journal

Regional win – Gazette Journal
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Debate over proposed amendments to Pension Fund Act heating up

âââ 11:53 Fri, 05 Mar 2021
The debate over proposed amendments to the Pension Fund Act of 1956 is heating up.
This would allow workers who have fallen on financially hard times because of the devastating impact of the COVID-19 pandemic to be able to access a percentage of their Pension Fund money before retirement.
Workersâ retirement savings currently amount to trillions of rand with the Public Investment Corporation managing R2-trillion on behalf of the Government Employees Pension Fund.
Cosatu first proposed the move at the height of massive retrenchments last year, which saw over two million people losing their jobs due to the national lockdown to fight the spread of COVID-19 in the country. ....

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'No reason to be apologetic': Mboweni on tiny social grant increases

24 February 2021 - 18:49
Tito Mboweni announced small increases to social grants, with the child support grant going up R15 a month, and the old age and disability grants going up R30 a month. File photo.
Image: Esa Alexander/Sunday Times
Finance minister Tito Mboweni says the government has “no reason to be apologetic” for raising social grants by less than the prevailing inflation rate.
Mboweni was responding to questions at a virtual post-budget press conference where he was asked if the government was not concerned about a political backlash after he tabled modest increases to social grants.
The inflation rate is 3.3%, the lowest it has been since 2004. ....

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