Transnet pensioners settlement offers little, late justice
Provisional agreement offers retirees higher annual increases and R30,000 lump sums after seven-year battle
A hard-fought legal challenge brought by Transnet pensioners against the state-owned logistics company has after seven years culminated in a settlement agreement, offering only some justice for the long-suffering retirees.
The settlement, which is yet to be made a court order, consists of a R30,000 lump sum per retiree, paid in three tranches over two years, and higher annual increases in future. It falls way short of what many pensioners and their dependants expected.