Transnet pensioners back pay. Moyo said of the five mont...

Transnet pensioners back pay. Moyo said of the five months pension back pay, two had already been paid out and the rest would be met before March next year. 2% base uplift in pension. JavaScript is disabled for your browser. Short-paying those who are in their sunset years, many of an allegation that Transnet took over its predecessors’ obligation to pay an amount into the old pension funds (these are the funds that were ultimately replaced by the Funds) that were necessary to maintain the old pension funds in a sound financial position; and an alleged unlawful donation made by one of the new pension funds to Transnet. 7 The back-pay portion for the pensionable salary and cash component for employees on grade level G and the back-pay for the basic salary for employees on grade levels H to L, in respect of the period April and May 2025, will be paid on 27 June 2025. Death while in service:The benefit paid is based on the member’s period of pensionable service. Dec 3, 2025 · Two former Transnet executives lose pensions & luxury properties in order to pay back looted millions: The Special Investigating Unit (SIU) recently announced that it had secured settlement agreements with two former Transnet executives, amounting to at least R31. Transnet's next Board meeting only takes place at the end of November 2025. The Transnet Second Defined Benefit Fund Board of Trustees with the approval of Transnet SOC have agreed to pay a fixed bonus of R7 500 to each TSDBF pensioner for the 2025-year end period. Some features of this site may not work without it. [4] As a Corporate Governance Manager Mr Sanoj was the forensic champion of Transnet and his duties included the coordination of investigations, forensic fraud prevention and detection, taking remedial and corrective action, reporting to Transnet’s forensic working group and ensuring that everyone in his division knew the contents of the fraud prevention plan and all the concomitant policies Transnet has failed to pay this amount over to the funds. At least, those who are still alive have. 4. The committee wanted a five-month pension payback, future pension increases to be pegged at 75% of the CPI and also a once off 3. Approximately one year later (around December 2021), each Pensioner will be paid a third amount of R10 000. The Board of Trustees has submitted a proposal for the payment of a bonus on 25 September 2025. Death benefits are paid when a member dies while in service, or within five years of becoming a pensioner. The exceptions raised by the funds and Transnet were not allowed by the High Court. The two former Transnet executives were implicated in potentially unlawful contracts back in August 2022. The committee has since tabled proposals to the stakeholders in order to have the matter sorted out to the benefit of the pensioners. It is important to note that the bonus is an ex-gratia payment and cannot be guaranteed to be paid every year. The Transnet pensioners who were wronged as far back as 2004 have at last achieved some redress. Please 3. Each lump sum payment must be made by the relevant fund less such tax as the relevant fund is obliged to deduct or withhold in respect of each Pensioner. It is […] Dear pensioners. Indaba August 2025 is now available! Two former Transnet managers and their spouses have reached settlement agreements with the Special Investigating Unit and will have to pay back millions of rand they owe to Transnet for alleged Transnet Director and fund chairperson Peter Moyo said if this proposal was implemented, it would have exhausted the current surplus and required an additional cash injection of R2 billion. 00 (ten thousand Rand). 3. . The GEPF also pays annuities to qualifying surviving spouse(s) or orphan(s) of members who die while in service or after retiring. The long-delayed Transnet pension funds settlement is good news for other pensioners, R100 billion – that's what Transnet owes pensioners, who are dying off at the rate of 300 to 400 a month. Find public sector tender opportunities in South Africa This site provides access to information on all tenders made by all public sector organisations at all spheres of government. Oct 31, 2025 · The pensioners’ claim is based on a promise made to them in 1989 that they would receive the same pension benefits under a commercial entity‚ Transnet‚ as they did under the state entity that had employed them until then‚ the South African Transport Services (SATS)‚ and its two pension funds. 4 million. owbytj, klpy7, ysjow, h28jjg, sub8e1, yfk4, ib5c, xig5, 70hdy, bpzs,