New law akin to bullying tactics

I READ with shock and extreme anger the recently promulgated new law on pensions and provident funds.

This new law reportedly allows the would-be pensioners and those resigning to get only one third of their pension funds while the rest will be paid monthly until death.

This is ludicrous and a total disregard of the needs and well-being of the majority of South Africans. This law is akin to bullying tactics and smacks of a government that has its eyes fixed on cashing in people’s pensions for its own corrupt practices.

How do I trust the government with my pension savings when they cannot run their own finances properly? I am absolutely certain that had there been consultation with the public, the majority would have shunned this law.

Yes, the majority of people use their retirement savings to build houses as they can’t afford to do so during their working life because of the low salaries they earn, while government officials and their families live in opulence.

Life expectancy has taken a nosedive – and the families of those who die while still getting their pensions will lose out on those payouts as they cannot afford lawyers’ fees to take on pension funds to extract the outstanding pensions. Let’s vote for a government that will consult the public before signing drastic decisions.

Cresta, Randburg