what is happening with transnet pensioners
The pensioners know that if the claim against Transnet is successful, it could do significant damage to the government, but at their age they deserve "a humane lifestyle, which they have been robbed of due to Transnet's mismanagement of their pension funds". Transnet SOC Ltd spokesman Mboniso Sigonyela said several comments had been attributed to chief executive … Poor Transnet pensioners should know by the end of February what is the latest developments in their estimated R80 billion-rand claim against the company. Transnet pensioners are struggling precisely because somebody else had influence over their pensions as investment experts, i.e. Business News. Pretorius and Another / Transport Fund, Transnet Second Defined Benefit Fund and Transnet Limited 35255/17. THIS letter is to inform all old Railway pensioners that the Department of Public Enterprises petitioned the Deputy Judge President regarding our court dates of 8 and 9 May and have asked for an extension of time to submit affidavits and arguments, which should have been done long ago. Friday, November 25, 2011. 15 March 2019. Transnet Pensioner update 19/02/2019. Good to the oldies who worked so hard all their … Let us assume that a Transnet Pensioner retired in 1990 with a Pension commencing at R5,000pm. Transnet pensioners have won the right to launch an R80 billion class action against the parastatal, as they try to claim back missing money. Approximately four hundred Transnet pensioners participated in a protest march to the Union Buildings in Pretoria yesterday to once again draw attention to their long-drawn-out battle against the government. It is a shame that any government would allow something like this to happen and then be so callous as to fight these vulnerable people, who are just asking for what they are entitled to, in court. Transnet. Approximately four hundred Transnet pensioners participated in a protest march to the Union Buildings in Pretoria yesterday to once again draw attention to their long-drawn-out battle against the government. Extra Payments for Pensioners. The group wanted to claim around R79.963 billion in assets and interest from Transnet. Since then only the 2 percent top-up has been paid. In 1989, the then SA National Transport Services agreed to increase pension funds by 70 percent of the rate of inflation plus an annual top-up of inflation plus 2 percent. FF Plus supports Transnet pensioners in protest march to Union Buildings concerning their pensions. Meanwhile, thousands of pensioners are living below the poverty line with some couples so destitute they're forced to take turns to eat. Ms Taljaard wanted an indication of how much of the Pension Fund’s assets were held offshore. Transnet would continue with ex gratia payments to pensioners with long services and low pensions, focusing on previously disadvantaged pensioners. New fund raising R700m+ for 'breakout' SA companies expanding into Africa 'It's happening!' Transnet pensioners have been in a legal battle with the utility for over 10 years. In the meantime, the FF Plus will continue to fight on behalf of the pensioners to reach a settlement with the government. 1 minute read. State pension age could rise to 70. Business News. Transnet pensioners “have no idea what was done with our money, how they invested it, how much was looted,” she said. Single pensioners relying on State hits highest in over 20 years . Given the State Pension will rise by 2.5% in April, those receiving the full New State Pension will see their weekly payouts increase by £4.40 per week, taking them to £179.58. 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Transnet and its pension fund have reached a "secret" deal with about 1 800 pensioners who were fed up with the pension settlements they received when they were retrenched between 1996 and 1999. Issued by Anton Alberts, FF Plus chairperson, 15 March 2019, Party says it supports protest concerning pensions of approximately 400 pensioners, Ramaphosa's dishonesty on SARB reckless - FF Plus. Two separate $750 payments have made to households and two more payments of $250 each will be made recognising the ongoing impact of the Coronavirus pandemic. The latest breaking news, comment and features from The Independent. The FF Plus has already engaged with Minister Gordhan in an attempt to reach a settlement. Also get Jet Airways Share/Stock detailed Information on Jet Airways along with top stories and articles on Jet Airways during last 6 months. Cape Town - After years of calling for inflation-linked annual increases, Transnet Second Defined Pension Fund (TSDBF) pensioners may at last see an increase close to 75% of the Consumer Price Index (CPI). What is happening now the FF Plus had predicted a while ago already: The ANC’s money is now finished and pension funds are now being targeted. READ: Sacked Transnet CEO will still receive a salary. The FF Plus will continue fighting side by side with the pensioners until the matter is settled. CAPE TOWN - Transnet pensioners are set to receive 13th cheques to a total value of R178 million, the parastatal announced on Tuesday.