The Public Servants Association (PSA) says it wants the Public Investment Corporation (PIC) to stop investing in the debt of Eskom as it exposes 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.

The union has also urged the PIC to avoid investing in other struggling state-owned companies such as SAA.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now