Unions warn of protests if pensions ‘hijacked’

COSATU’S biggest affiliate has warned that all of its more than 300 000 members will take to the streets should Finance Minister Minister Malusi Gigaba allow the Public Investment Corporation (PIC), the custodian of workers’ pensions, to be “hijacked” by the Guptas.

The National Education, Health and Allied Workers’ Union (Nehawu) joined the chorus of labour organisations that reacted to alleged attempts to remove PIC chief executive Dr Daniel Matjila in order to replace him with a Gupta-linked appointee.

Yesterday, Nehawu said that legal action and the mobilisation of its members against the alleged PIC hijack were on the cards should any untoward changes take place in the institution’s executive.

Yesterday, an Independent Media report told of a plan by the controversial family to replace the PIC chief executive with a board member recently appointed to the board by Gigaba. This, sources said, is set to take place at today’s special board meeting, where Matjila has been summoned from an overseas trip in the US by PIC deputy chairperson Xolani Mkhwanazi to answer allegations of funding a project linked to an alleged lover.

The PIC is the biggest investor in the economy, with roughly R1.8 trillion under its wing on behalf of the Government Employees Pension Fund. Teacher union Sadtu said they too were ready to defend their money.