COSATU Welcomes the suspension of the PIC Acting CEO
27 March 2019
The Congress of South African Trade Unions (COSATU) welcomes the decision of the PIC Board to suspend its acting CEO, Ms Matsepo More. The federation is alarmed by reports that the CEO may have interfered in matters relating to the Commission of enquiry into the PIC.
If true, this shows the extent of lawlessness at the PIC, and in particular the grotesque contempt for the rule of law shown by many of its management team. It confirms that too many in the PIC and elsewhere simply view it as a slush fund to feed their insatiable appetites and not as the public asset manager to ensure the protection and growth of workers’ pensions (GEPF) and insurance funds (UIF and COIDA).
The PIC Board must urgently refer this shocking matter to the PIC commission to deal with.
The Commission needs to act quickly and decisively to deal with any attempts by PIC managers to undermine the commission. The Hawks and other relevant law enforcement agencies need to be brought in to deal with such attempts to sabotage the commission, including charging such persons with contempt of court and their immediate arrest and detention.