OPINION - The SA Railways and Harbours pensioners have been treated very shabbily by the board running this pension scheme. Eleven years later, he would have been receiving a Pension of R10,151 per month based upon Transnet’s minimum increases ( 70% of CPI, assumed to be 9,5%pa over that period). Let us assume that a Transnet Pensioner retired in 1990 with a Pension commencing at R5,000pm. “We will work for scraps until we die,” she added. Get latest Jet Airways News/Updates and Results/Analysis. They also demand better management of their pension funds by the board of trustees as well as a democratically elected independent chairperson. 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). Transnet pensioners suffering for years now,you people make if it is a hell of a bonus, my annual 2% increase = R80 my sickfund goes up with R180. The South African government doesn’t impose any tax on overseas pension schemes, although you will need to check how your payments from state pensions overseas might be affected. Good to the oldies who worked so hard all their … Pretorius and Another / Transport Fund, Transnet Second Defined Benefit Fund and Transnet Limited 35255/17. Transnet pensioners have been in a legal battle with the utility for over 10 years. The CPI measured changes in the price level of consumer goods and services purchased by households. Transnet pensioners “have no idea what was done with our money, how they invested it, how much was looted,” she said. The FF Plus has already engaged with Minister Gordhan in an attempt to reach a settlement. Pension Funds prices and performance includes Fund Overview, Discrete and Annual performance, Fund ratings, Literature, Video & Audio information 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. This is truly a human tragedy that has directly caused the death of many elderly and sickly people and that has doomed tens of thousands of others to lead a precarious existence. New fund raising R700m+ for 'breakout' SA companies expanding into Africa 'It's happening!' Rapport article on transnet pensioners 'inaccurate' ─── 15:37 Sun, 27 Jul 2014. Regrettably, despite the teams’ new strong … and what about our rates and taxes electricity petrol and food etc.We cant stretch Mandelas R100 notes any further because they not made from rubber!!!!! The FF Plus will continue fighting side by side with the pensioners until the matter is settled. Extra Payments for Pensioners. The pensioners said the utility has reneged on a promise to fully pay out their pensions. Single pensioners relying on State hits highest in over 20 years . 15 March 2019. Annual increases in line with Inflation would have projected to R13,568pm. Friday, November 25, 2011. 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. © 2020 eNCA, an eMedia Holdings company. 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. If the case continues and the government loses, it could have an extremely negative impact on our country's credit rating. … This was subject to affordability. Eleven years later, he would have been receiving a Pension of R10,151 per month based upon Transnet’s minimum increases ( 70% of CPI, assumed to be 9,5%pa over that period). Pretoria - Lawyers will ask the High Court in Pretoria for approval to bring a class action against Transnet on behalf of 62,160 pensioners from the apartheid years, Rapport reported on Sunday. Transnet currently incurs a R200million a year cost (paid directly to Transmed), in addition to R1.2billion set aside as an actuarial liability relating to the 26000 pensioners and dependants. Attention all Transnet pensioners REGARDING the costs of our class action and the implications of opting out or not, when we (Transnet Pensioners Action Group) embarked on our journey to court, one of the items at the top of our list of concerns was how we were going to pay the legal fees and other costs of bringing a … November 18, 2014. The pensioners say the utility has reneged on a promise to fully pay out their pensions. Knife Capital's Keet Van ... Capitec Bank must OK BEE share sale. Also get Jet Airways Share/Stock detailed Information on Jet Airways along with top stories and articles on Jet Airways during last 6 months. In the meantime, the FF Plus will continue to fight on behalf of the pensioners to reach a settlement with the government. You will be eligible if you are currently receiving social security, veteran and other income support or are an eligible concession card holder. Why are we told that the pensioners of the TSDBF are not allowed a say in the appointment of their Trustees? We have received a directive from the office of Acting Deputy Judge President to the effect that this matter was allocated for case management. The pensioners are demanding nothing more than justice and the payment of their pension money, as Transnet had promised. The pensioners say the utility has reneged on a promise to fully pay out their pensions. Well, ask the 70 000 Transnet pensioners who more often than not get more money from an old-age grant than from their pensions! We strive to provide extensive professional legal services to our clients’ and take pride in the fact that we not only deliver the highest standards of professional service, irrespective of the size or nature of the client; but also ensure a quick resolution of matters on hand. All rights reserved. SAfm News - Transnet pensioners have won the right to launch an R80b class action against the parastatal as they try to reclaim their missing money. The Pensioners problems would … 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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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. Transnet SOC Ltd spokesman Mboniso Sigonyela said several comments had been attributed to chief executive … Furthermore, the memorandum states that most pensioners only receive a mere R 2000.00 or even less per month. The memorandum addressed to President Cyril Ramaphosa and the Minister of Public Enterprises, Pravin Gordhan, which was handed over at the Union Buildings, states that pensioners of all races have, over the last few years, received an increase of only 2% per annum while living expenses have risen even higher than the official inflation rate.
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