FF Plus supports PIC chairperson, Dr Dan Matjila’s, opposition of the plundering of the GEPF and other pension funds

26 September 2017

Behind the scenes there is a lot of pressure on the chairperson of the Public Investment Corporation (PIC), Dr Dan Matjila, to allow the Government Employee Pension Fund (GEPF) to be used to bail out struggling state-owned entities and the FF Plus fully supports Dr Matjila in his opposition to this, says adv Anton Alberts, chairperson of the FF Plus.

According to adv Alberts, recent reports that the Minister of Finance, Malusi Gigaba, wants to force the PIC to financially bail out state-owned entities is seriously worrying and the FF Plus will not fall for the Minister’s denial of such reports.

Adv Alberts says the party gathered from sources within the PIC that Dr Matjila is truly under attack in an attempt to force the PIC council to pay pensioners’ money over to captured and failing entities like SAA, ESKOM and PetroSA.

“The FF Plus therefore fully supports Dr Matjila and his team and already has a legal team at the ready to act on behalf of the GEPF pensioners on a contingency fee basis, just like the legal team representing the Transnet pensioners.

“We cannot believe the Minister’s statements that he did not make an official, or unofficial, request for R100 billion of the money held by the PIC to be used as a buoy for the sinking entities. In the past, the ANC has proven time and again that they cannot be trusted.

“The FF Plus is keeping a very close eye in the situation and will have the legal team act if the money held by the PIC indeed comes under threat,” says Adv Alberts.

Issued by Anton Alberts, FF Plus chairperson and parliamentary spokesperson: Finance, 26 September 2017