LETTER: Doubt over PIC assurance
DA MP Michael Bagraim: PIC has agreed to lend Eskom R5bn, but are the UIF and Workmen’s Compensation Fund safe?
The Public Investment Corporation (PIC) has agreed to lend Eskom R5bn. The PIC receives money from the Government Employees Pension Fund and various other facilities such as the Unemployment Insurance Fund and Workmen’s Compensation Fund. We are all fully aware that these monies do not belong to the government and are merely managed by the PIC. Last week, I asked the commissioner of workmen’s compensation (within the Department of Labour) whether the funds invested by the working public towards the insurance for workmen’s compensation is safe. The commissioner very boldly blurted out that the monies are completely safe with the PIC. One wonders whether this answer was a knee-jerk reaction to send out a message of assurance to the working public. Michael Bagraim, MPDA labour spokesman
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