Cosatu is exploring two more urgent interventions which it thinks could help reduce Eskom’s debt. The first is to ask the government to “tap into billions of rands in unclaimed mineworkers’ retirement funds” and the second is to “use funds from the UIF”
The first is to ask the government to “tap into billions of rands in unclaimed mineworkers’ retirement funds” and the second is to “use funds from the Unemployment Insurance Fund ”.
“We have been in talks with the government and the private sector to make it clear to them that we expect the government and business to contribute towards Eskom’s debt and then the shortfall would come from the pension fund. Reasons given for the unclaimed pension money included the failure by many employers or funds to provide proper information to employees, such as informing them of their entitlement to a withdrawal benefit should they resign, were dismissed or retrenched and how to claim a benefit when it accrued.
Masale Selematsela, the president of the Federation of Unions of SA, also indicated that his union members would oppose Cosatu’s suggestion.
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