Readers’ Views

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The GEPF is financially sound and fears about this are unfounded

It is unfortunate that your article “State pension fund squeeze” (May 12) was biased towards one narrative, articulated by the Association for Monitoring and Advocacy of Government Pensions (Ama GP), whose signed-up membership is about 500 people, as indicated by them at the Public Investment Corporation inquiry, and not 7,000, as indicated in your article.

Although the Government Employees Pension Fund (GEPF) does not downplay concerns raised by stakeholders, the selective publicising of utterances of an organisation that represents about 0.05% of total GEPF membership causes unnecessary stress and anxiety to our members and pensioners, which often leads to them making poor decisions with respect to their pension in the GEPF.

The article creates the impression the GEPF ignores the concerns raised by Ama GP. This is far from the truth.

It is unfortunate that when the GEPF responds factually to issues raised by the AmaGP, such responses are deemed untrue because they do not substantiate the AmaGP’s perceptions. Despite continuous negative comments by the AmaGP with respect to the financial soundness of the GEPF, the GEPF wishes to inform its members that it is financially sound and able to meet its obligations.

Stakeholder Management and Communications Unit, GEPF

A refreshingly sensible approach

How refreshing to read “Earth to Cyril: No more Mr Nice Guy” (May 12). Busisiwe Mavuso can clearly see the problems facing SA, but, better still, puts forth solutions to address them.

“Cadre deployment can no longer be an option.” “Leave the banks alone.” If SAA is not providing a public service the private sector cannot provide, “then abandon it, get rid of the damn thing. It’s a huge albatross around our neck.”

Such good common sense.

Pity this lady is not in government to get things done properly in order to move SA forward in the right direction. We need more people like her to make a difference.

Carol Kidger, by e-mail

White businessmen excluded

None of the six economists in your article “The crucial boxes economists would like to see ticked” (May 12) listed the barrier that effectively prevents white businessmen from investing in the business economy in SA.

The exclusion of white business from normal participation in the business economy perpetuates high unemployment and low growth.

This barrier, consisting of racially based BEE legislation and the application of the demographic doctrine, effectively prevents white businessmen from participating normally in the economy.

If this barrier is removed, white capital and skills will flow freely into the economy, and the economy will fly.

It is significant that this barrier to investment by an important component of the business community is never discussed by economists.

We need to go forward as one nation without discrimination. When will the penny drop?

GS Bell, East London