
The EFF has written to the Speaker of the National Assembly Thoko Didiza, requesting the establishment of an Ad Hoc Committee to investigate the theft of R7 billion of workers pension funds.
The matter is of serious urgency, considering the legislation that has been passed known as the Revenue Laws Amendment Bill of 2023, popularly known as the “two-pot system”, which allows for retirement funds to be accessed by members, without having to resign or cash-out their entire pension funds.
Should the reports by the FSCA prove to be correct, then millions of employees will encounter challenges when it comes to withdrawing portions of their pensions using the two-pot system, because the funds are simply not there, because employers have not paid them.