2017-08-31

Finance Minister Gigaba: Former Venda Pension Fund victims will be resolved

CAPE TOWN- The payment of pensions to beneficiaries of the former Venda Pension Fund will be resolved by the end of November 2017, says the  Ministry of Finance.
“The Minister of Finance, Malusi Gigaba, intends to resolve the payment of pensions to beneficiaries of the former Venda Pension Fund by the end of November,” said the ministry of the monies that are owed by the then government of Venda in Limpopo.
 
According to a statement, Gigaba said the matter has long been outstanding and needs to be resolved as urgently as possible.
 
Tshimangadzo Tshiololi, Musandiwa Ramavhale and  Mafela Rabambi were victims of the state's maladministration following former public protector Thuli Madonsela's investigation in 2011.
The victims lost all their retirement money during the amalgamation of the Venda Pension Fund and the First Privatisation Scheme pre-1994 and before the Government Employees Pension Fund came into effect.
The new scheme came into effect in 1993 while payouts by the former Venda government were made in 1992. Some of the pensioners could not be paid and had claimed the payouts were made "selectively", reported Sowetan live earlier this year.

It is said that Madonsela's report urged the state to pay out the former workers' pension and apologise to them for maladministration at the hands of "different government institutions".
However, former public protectors efforts were in vain as none of these happened.
Meanwhile, the Minister has reaffirmed his commitment to seeing the project finalise.
“The Government Pensions Administration Agency (GPAA) is collating and reconstructing individual files and records of beneficiaries. This will ensure that qualifying pensioners receive the monies due to them,” concluded the Ministry of Finance.


https://www.iol.co.za/business-report/economy/finance-minister-gigaba-former-venda-pension-fund-victims-will-be-resolved-11008294