Gigaba's spokesperson on PIC pensions: There’s nothing to fear

Malusi Gigaba's spokesperson says they want to assure pension holders that no one will be allowed to unduly influence the PIC.

FILE: Minister of Finance Malusi Gigaba ahead of the ANC national policy conference at Nasrec on 30 June 2017. Picture: Thomas Holder/EWN.

JOHANNESBURG - Finance Minister Malusi Gigaba says he's concerned about the ‘politicising’ of the Public Investment Corporation (PIC).

Despite internal audit findings exonerating PIC CEO Dan Matjila, trade unions who represent thousands of workers, whose pensions are managed by the PIC, want Gigaba to include their members on the board of directors.

The minister says he's written to the CEO and the board requesting them to provide a list of its beneficiaries and the investments it has made, as well as a forensic investigation into any concerns of irregularities.

The minister's spokesperson Mayihlome Tshwete says they want to assure pension holders that those with political or economic power will not be allowed to unduly influence the PIC.

“The PIC is being used as a political toy for people to achieve a number of things. The best thing we can do for pension holders is to assure them their pensions are safe and there’s nothing to fear at the PIC.”

(Edited by Shimoney Regter)