CABINET RESHUFFLE
Pension not behind resignation of MPs
New rules governing MPs pension funds were introduced recently
It is unlikely that axed members of President Jacob Zuma’s Cabinet resigned as MPs to preserve their lucrative pensions, after new rules governing their pension funds were introduced recently. Last week, ANC secretary-general Gwede Mantashe hit out at former ministers who resigned as members of Parliament following their removal from Cabinet, saying their decisions to exit Parliament was to preserve their lucrative pension benefits‚ accumulated through their ministerial jobs‚ which were likely to drop had they stayed on as ordinary legislators who are paid less than members of the executive. "The pension structure of Parliament, as you know ... people are removed as ministers‚ they resign to protect their pensions. When people get to the back benches, they lose their pensions. Their pension will be calculated at the rate of a backbencher‚" Mantashe was quoted as saying last week. Former deputy finance minister Mcebisi Jonas, erstwhile energy minister Tina Joemat-Pettersson‚ and sack...
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