The EFF has proposed a retirement fund levy to fund the country’s fees shortfall. EFF deputy leader Floyd Shivambu said the idea that free education was impossible was an "ideologically bankrupt one" in an outdated and "constipated" system. He said a small levy should be charged on retirement funds, which, according to his calculations‚ would create about R100bn in funding. He said the Public Investment Corporation (PIC)‚ which invests the pension funds of government employees‚ had managed to make multi-billion rand investments into companies and so should be able to pay such a levy. This amount‚ coupled with government’s approximately R33bn in funding, the National Student Financial Aid Scheme (NSFAS) and increased corporate taxes could create about R163bn in income to fund university education.
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