After 3 months as MP, Molefe will get R40 000 pension payout
MPs earn an annual salary of R1‚033‚438 a year. Sixty percent of the total package is pensionable‚ according to the latest Government Gazette detailing remuneration for members of Parliament
As Brian Molefe faces losing his R8 million a year salary with news on Wednesday that his reinstatement as CEO is set to be rescinded‚ he may take heart to hear he qualifies for a pension payout after his brief stint as a member of parliament. Molefe‚ after having spent a total of three months as an MP‚ is eligible for R40‚000 – or more - in pension money from the Political Office Bearers Pension Fund. The amount is an estimate calculated using publicly available information of MPs' salaries and the percentages they and their employer‚ Parliament‚ contribute monthly. Molefe started work as an MP in mid-February and served in Parliament for the full duration of March and April‚ before returning to Eskom on May 15. Roughly‚ this translates to 90 days holding political office‚ and he is entitled to his contributions to the fund as deducted from his first salary. Parliamentary spokesman Moloto Mothapo confirmed to TimesLIVE that it was standard practice for any MP to contribute to the f...
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