Under siege: The biggest prize of all, the R1.8 trillion pension piggy bank
'All told‚ the PIC shepherds R1.8-trillion, which is about R400-billion more than the combined war chests of the top 50 companies in this country'
Largely overshadowed by the main plot of the wretched soap opera that is Jacob Zuma’s presidency (The Bold and the Bought)‚ another drama is playing out today. You’d be forgiven for not remembering the names of these supporting actors‚ but right now the rumoured showdown at the Public Investment Corporation isn’t just the most important story in the country. It is the whole story. The PIC is the largest piggy bank in South Africa‚ managing the vast Government Employees Pension Fund that keeps millions of elderly citizens alive. All told‚ the PIC shepherds R1.8-trillion‚ which is about R400-billion more than the combined war chests of the top 50 companies in this country.
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