‘There is no money’: EFF on municipal workers who can’t withdraw from two-pot retirement system

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‘There is no money’: EFF on municipal workers who can’t withdraw from two-pot retirement system
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172 municipalities owe more than R1 billion in pension fund contributions, according to the FSCA.

The Economic Freedom Fighters has slammed municipalities who owe contributions to the pension funds of municipal workers.

EFF spokesperson, Leigh-Ann Mathys said what was worrying was that these municipalities were deducting the pension contributions from the workers’ salaries.South Africans expected to withdraw up to R100bn from two-pot retirement system “Municipalities such as the Umsunduzi Local Municipality, which is controlled by the African National Congress , and the Nquthu Local Municipality, which is controlled by the Inkatha Freedom Party , owe municipal pension funds for over 100 months respectively,” she said.Salga blames ratepayers for failing municipalities, ignores corruption

“As a result, there is a dangerous crisis pending that will affect the working class, because there is no money in their pension funds,” she added.

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