Latest News & Developments
Ithala Bank’s potential liquidation raises alarms among the Democratic Alliance and traditional leaders, who warn of devastating consequences for rural communities reliant on its services.
Baleni is a former general-secretary of the National Union of Mineworkers and currently serves as a director in a number of boards.
In addition, the GEPF, represented by the Public Investment Corporation of South Africa (PIC), have injected $48. 5 million (R879. 9 million) of cash equity as part of a $100 million recapitalisation of GREA.
Member contributions saw a 10. 8% increase to R91. 94bn, highlighting strong member engagement and active membership, which grew by 0. 84% from 1267307 to 1277902.
The MK Party welcomes Dondo Mogajane’s resignation, reaffirming its commitment to ethical leadership and protecting the integrity of public institutions.
Mogajane allegedly accepted a R1 million ‘gratification’ when he was director-general of National Treasury from convicted former chairman of VBS Mutual Bank, Tshifhiwa Matodzi, in order to allow the defunct bank to continue taking municipalities deposits in contravention with the law.
Since September 1, 2024, the Government Employees Pension Fund has received a little under 63,000 two-pot retirement system applications.
Nine houses were handed over to military veterans in Copesville, Pietermaritzburg, by the KwaZulu-Natal MEC for Transport and Human Settlements Siboniso Duma.
Saftu’s Zwelinzima Vavi insists the two-pot system was introduced as a scheme for the government to raise money through the tax deducted from the workers’ savings and retirement funds.
KwaZulu-Natal Premier Thami Ntuli has set aside R200 million to accelerate women’s empowerment in the province.
South Africa, Brazil and Spain’s labour ministers formed an alliance to combat worldwide labour inequalities.
The government’s wage system processes thousands of garnishee orders running into millions of rands each month.
The SADC Peace Commission team’s assertions come just days after Ramaphosa promised a six-point jobs plan which includes investing in manufacturing electric cars to revitalise the country’s ailing economy during his Siyanqoba rally speech.
THE decision by South African lawmakers to amend legislation to allow people the opportunity to withdraw their pension savings early, may come as a welcome lifeline for some, but trade union Solidarity has criticised the ‘rushed pace’ of amendments.
Markus Jooste’s passing came just a day after the Financial Sector Conduct Authority imposed a R475 million penalty on him.
Party tried to get info at Government Pensions Administration Agency
Florence Seloana turned to the high court sitting in Polokwane, in a bid to receive the full pension benefits of her late husband, Malesela Seloana.
Retired finance management officer Thabisile Cele has been at loggerheads with the Government Employees Pension Fund (GEPF).
“My wife is a seasonal worker who had to take on the job to see us through with additional finances that my current pension cannot cover. ”
This comes after a complainant alleged that the MEPF allocated 23 years and two months of services to him while it should have been 41 years and two months.
GEPF said this was as its investment strategies continued to protect the fund’s assets amid a poor performing South African and global economy and as the financial year 2022/23 was a challenging year for investors around the world.
The Government Employees Pension Fund chairperson Dondo Mogajane launched the GEPF’s Transformation Policy last week, marking a watershed move for economic transformation in South Africa. The policy, unveiled at the GEPF Annual Thought Leadership Conference 2023 in Cape Town, will throw the full weight of Africa’s largest pension fund behind promoting socio-economic development and addressing historic inequalities within the country and the financial sector.
The GEPF has just officially launched a new Transformation Policy that seeks to create a framework for future GEPF investments by to stimulate and achieve socio-economic transformation,
PIC acting chief financial officer Brian Mavuka said global financial markets had to contend with tighter financial conditions, heightened geopolitical tensions, risk aversion, and slower economic growth.
A judge found that the husband squandered his and his wife’s joint assets during their marriage by transacting in clandestine, questionable business dealings.