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[LISTEN] How the Steinhoff scandal affects pension funds

| The Government Employees' Pension Fund (GEPF) has lost more than R12bn as Steinhoff International faces investigations.

CAPE TOWN – The Public Investment Corporation (PIC) invested a large amount of money in Steinhoff International.

Government workers’ pensions are invested in the PIC.

Tahir Maepa, deputy general manager of the Public Servants Association (PSA), told EWN’s Stephen Grootes that the GEPF has lost billions.

Maepa says several other institutions have also been affected.

Listen to the audio above for more.

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