The Eskom Pension and Provident Fund acknowledges the announcement that power utility Eskom put out on Monday, 20 December 2021, where it stated that it had executed the separation of its transmission division, subject to certain conditions, in line with its restructuring plan.
Eskom said in its statement that under the plan, its generation and transmission units had to be separated by the end of December 2021 and the distribution division by December 2022. It said this remained subject to conditions, including obtaining the applicable consents from creditors but the statement did not elaborate on other conditions or the progress of the separation of its generation unit.
The Fund wishes to confirm that this announcement has no immediate implications on the Fund and pension arrangements of members and pensioners. The current arrangements will continue as usual. Our leadership team is engaging with Eskom on this process. We will communicate any further updates to members as and when new information becomes available.
Eskom Pension and Provident Fund