Proactive action needed to keep Government Employee Pension Fund (GEPF) from being plundered by Guptas
14 September 2017
Recent developments seem to show that the Government Employee Pension Fund (GEPF) is once again the target of the Gupta-orchestrated plundering of state resources and it is truly worrying, says adv Anton Alberts, FF Plus chairperson. He adds that proactive action is needed to protect the Fund.
According to an IOL article, plans are being made behind the scenes to replace the current chief executive officer of the Public Investment Corporation (PIC), Dr Dan Matjila, with a PIC council member that was recently appointed by the Finance Minister, Malusi Gigaba.
Adv Alberts says that the PIC, which manages the GEPF as an asset of R1,87 trillion, is the greatest investor in the country’s economy and is therefore a very attractive target for various self-enriching actions.
“The FF Plus takes notice of the recent allegations and will continue to keep a very close eye on any threats to the Fund.