The Democratic Alliance (DA) has objected to this proposal to use over R250 billion of the money managed by the Public Investment Corporation (PIC)to finance half of Eskom’s debt.
If the Government Employees’ Pension Fund approves this Cosatu proposed bailout for Eskom, state employee pensioners will never see their money again. They should not in any way rely on the supposed guarantee of their “defined benefit” pensions when this government cannot pay its bills. That is why we will resist this proposal, and call on the GEPF to do the same.
We encourage all civil servants to make their voices heard:
Contact your local COSATU representative here: http://mediadon.co.za/provinces-2/, and tell them that you reject this plan!