The labour union whose members contribute most to the funds overseen by SA’s state pension manager wants the institution to stop investing in the debt of Eskom, potentially increasing funding pressure on the heavily indebted utility.

The 240,000-strong Public Servants Association (PSA) said by buying Eskom’s bonds the Public Investment Corporation (PIC) is exposing pensioners to excessive risk as the state-owned power company is not selling enough electricity to cover its costs and has had to be bailed out by the government...

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