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Cosatu proposes using pension fund for Eskom bailout

Eskom

Trade union Cosatu is offering a solution to help crisis-hit Eskom. The union is proposing workers’ pension money be used to pay off Eskom’s debt, a move it says could yield positive investment in the long run. Eskom faces a debt of over R400-billion Cosatu’s plan is being endorsed by the Alternative Information and Development Centre.

Cosatu

Dominic Brown, Economic Justice Programme Manager, said the trade union’s proposal is credible and does not put the cost of solving the crisis on the poor people of South Africa.

“The way government employs [the] pension fund is guaranteed or a defined benefit, it means those pensions will be guaranteed regardless of the performance of the PIC,” he said. Brown stated an investment from the PIC would not be a “free meal” but would be an investment based on conditions imposed upon the power utility.

In other news – Inside Itumeleng Khune’s wife Sphelele beautiful Baby Shower – Pictures

Wow! This is so beautiful. Happiness was the order of the day as Mzansi’s controversial goalkeeper Itumeleng Khune and his wife Sphelele Makhunga prepared to welcome their bundle of joy by throwing a beautiful baby shower.

Mrs Khune's Baby Shower

Khune, who is no stranger to hogging tabloid headlines for his controversial and complicated love triangles, has been with Sphelele for several months now. Read more

Source: eNCA