Amcu turns to Alexander Forbes
The union that led a five-month strike at operations of the world’s biggest platinum producers has appointed Alexander Forbes to start a provident fund for its members.
The Association of Mineworkers and Construction Union (Amcu) asked Alexander Forbes “to register and administer on its behalf and its members, the national umbrella provident fund”, Bonga Mokoena, managing director of actuarial and consulting solutions at Africa’s largest independent retirement fund administrator, said recently.
Amcu has more than 100 000 members and is seeking an alternative to benefits currently offered to mine workers.
Amcu president Joseph Mathunjwa said that members’ retirement money should move to a fund where members have a bigger say.
Their savings are currently managed by the Mineworkers’ Provident Fund, which has about R24.8 billion and is sponsored by the National Union of Mineworkers.