Dear Member, 

I write to you at a time when the world at large, and South Africa in particular, is making steady progress in its recovery from the Covid-19 pandemic. However, global optimism has somewhat waned, and increased levels of uncertainty and volatility have in recent weeks come to the fore. This is largely due to the Russian-Ukrainian war and its impact on global markets - the oil price in particular; inflationary pressures and responding increases in interest rates; changes to legislation and regulations governing pension funds in South Africa, and closer to home, the ongoing Eskom unbundling. 

As the Fund, we are monitoring and assessing these developments, and continue to take the necessary steps, as required, to protect and/or advance the interests of the Fund and its members and pensioners. 

In the interim, and keeping with our spirit of accountability, I thought I should provide you a brief update on some of the Fund’s activities for the six months period ended 31 December 2021. 

Dear Pensioner,

ALL THINGS TAX RELATED

As part of our ongoing efforts to keep our pensioners informed, the EPPF would like to provide you with an update around certain tax-related changes which is being implemented in 2022, which may have an impact on you. 

Dear Members,

The Eskom Pension and Provident Fund (“the Fund”) is pleased to announce the appointment of Ms. Thandie Mashego as Chief Financial Officer (“CFO”) with effect from 1 February 2022. This follows the appointment of the then CFO, Shafeeq Abrahams, to the role of Chief Executive and Principal Officer last year. 

Dear Member/Pensioner,

As part of our continued efforts to keep you informed, the Eskom Pension and Provident Fund (EPPF) would like to provide you with the latest information on certain matters relating to the Fund. We would like to thank the members and pensioners for engaging us on these and other matters and for ensuring that the Fund remains accountable and sustainable.

Dear Member/Pensioner,

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

The Eskom Pension and Provident Fund (EPPF or the Fund) is honoured to share this year’s Integrated annual report. The report provides transparent, succinct and material information about our performance during the year, and how this contributed to creating and sustaining value for our stakeholders. 

Dear Member,

In one of my earlier communique issued in May this year, I indicated that as the EPPF we “aim to sharpen our focus on our relationship with you, the member, as well as the value we deliver to you. Of importance, is how we communicate and engage with you, as well as how our investment and operational activities respond to your needs in a timely, efficient, effective and empathetic way.”

As 2021 draws to a close, I would like to take the opportunity to update you on the progress the Fund has made in this regard, in what has been a turbulent time. The COVID-19 pandemic presented the Fund with a set of unprecedented and challenging circumstances. Nevertheless, through our digital platforms, we have managed to meet with approximately 5,800 members where we not only shared the Fund’s performance information but also had the opportunity to listen to the concerns of our members. Members have expressed concerns about the safety of their retirement savings, lower than expected annual pensioner increases as well as the lack of access to and engagement with the Fund. We have paid attention and endeavoured to address the issues raised.

Dear Pensioner,

Minimum annual pension increase

On the recommendation of its Valuator, the EPPF Board approved a minimum pension increase for all pensioners of 5% with effect from 1 January 2022. This is in line with the Consumer Price Index (CPI) of 5% on 30 September 2021.

Dear Member/Pensioner,

In an effort to keep you updated and informed, we would like to provide the latest information on several matters relating to the Fund. We also want to thank the members and pensioners who participated in our digital engagements – those sessions were very productive and the level of engagement was noteworthy. 

The Fund also recently conducted Member Satisfaction research where members and pensioners provided feedback on their member experience. Thank you to those members who participated in the research – we will be putting together a programme to ensure that we improve our service based on your feedback.

Dear Pensioner/Member,

The EPPF is introducing WhatsApp and USSD functionalities for EPPF members and pensioners with mobile devices. From Wednesday, 13 October 2021, the Fund is changing how it connects and services its members and pensioners with an omni-channel, self-service approach.

SERVICES AND SUPPORT AT YOUR FINGERTIPS

WhatsApp and USSD are widely used by companies from banking to information centres. The Fund intends to use these channels to provide services and support to all our members and pensioners. The platforms have been designed to simplify accessing information, interaction, and communication between the Fund and its pensioners.

It is not too late for you to win big – download the app and win!

The EPPF has been running an exciting competition in the EPPF Mobile App promotion where participants stand a chance to win amazing weekly prizes and gain one entry into the final draw for the iPhone 12 Pro Max and Samsung Galaxy S21 smartphones grand prizes.

Dear Member/Pensioner,

THE ENHANCED EPPF MOBILE APP FINALLY HERE!

Our enhanced mobile app is now live. To celebrate this, we have an exciting competition that will help you get acquainted with the enhancements to the mobile app. Find out how the mobile app can help you with access information at your fingertips by clicking here to watch our introduction video.

Dear Member/ Pensioner,

The Eskom Pension and Provident Fund (“EPPF” or “the Fund”) has amended its Fund Rules, effective 1 April 2021. The Rules were amended and submitted to the Financial Sector Conduct Authority (the “FSCA”) in the first quarter of 2021, and the FCSA has subsequently approved the Rules. 

Dear Member/Pensioner,

As a significant institutional investor within the South African economy, The Eskom Pension and Provident Fund (“EPPF” or “the Fund”), has been closely monitoring the impact of the recent social unrest which has sadly led to a loss of numerous lives and damage to a significant number of properties.

During the COVID-19 pandemic and the various stages of lockdown, the Eskom Pension and Pension Fund (‘EPPF’ or ‘the Fund’) has focused on ensuring minimal disruption to our operations so that we continue to serve our members and pensioners.

Dear Pensioner,

The Eskom Pension and Provident Fund ("the Fund") distributed your electronic tax certificate for the 2021 Tax Year on 1 July 2021.

Please be aware that a fraudulent message has been circulated to EPPF pensioners claiming that some members have won prizes in a competition run by the EPPF.

The EPPF is currently not running any competitions for pensioners or any member group. The Fund will always communicate clearly if there is a competition, we would like you to take part in.

Dear Member/Pensioner,
 

As we draw deeper into the Winter, and having completed my first full month as Chief Executive and Principal Officer of the EPPF, I wish to take this opportunity to express my sincere gratitude for the overwhelming messages of support from you, the Fund’s most important stakeholder.

Dear Member/Pensioner

The Eskom Pension and Provident Fund (EPPF) would like to provide the latest information on several matters relating to the Fund.

The Eskom Pension and Provident Fund (EPPF) Board would like to take this opportunity to bid farewell to an exemplary leader and welcome an able successor.

Dear Member,

We communicated previously that the Eskom Pension and Provident Fund ("the EPPF" or "the Fund") had been the subject of a series of negative reports by the Business Maverick over the past twelve months.

The Eskom Pension and Provident Fund (EPPF or the Fund) is honoured to present this year's Integrated report themed "70 years of caring, value and investment".

Each year the Board of Trustees ("the Board") of the Eskom Pension and Provident Fund ("the EPPF" or "the Fund") determines an annual pension increase, in accordance with the Fund's pension increase policy.

Latest developments on the new system

Our new administration system has now been in operation since May 2020.

The Business Maverick has published several damaging articles about the Fund since January 2020, making various allegations against it.

The COVID-19 pandemic, which started as a global health crisis, has also become a global economic crisis. There have been more than 97 000 confirmed cases of the virus in South Africa so far, and the consequences have been far-reaching for the country's economy.

The Eskom Pension and Provident Fund ("EPPF" or "the Fund") has been advised by Eskom Holdings SOC Ltd ("Eskom") that the Employee Benefits department has been closed. The department previously assisted EPPF pensioners with compulsory death benefit and top-up medical aid queries.

Advanced digital solutions are constantly improving the delivery of services to customers in every aspect of daily life.

On 23 March 2020, President Cyril Ramaphosa announced drastic measures to contain the spread of Coronavirus (COVID-19) - including a nationwide lockdown for 21 days with effect from midnight on Thursday, 26 March to Thursday 16 April 2020.

Each year the Board of Trustees ("the Board") of the Eskom Pension and Provident Fund ("the EPPF" or "the Fund") determines an annual pension increase, in accordance with the Fund's pension increase policy.

Position: Investment Analyst  

“The recipe behind my success is always being ready to grasp opportunities that present themselves,” says Tetelo Mabona, Eskom Pension and Provident Fund (EPPF) investment analyst.

The Eskom Pension and Provident Fund (EPPF) Board is pleased to announce the appointment of Ms Linda Mateza as the new EPPF Chief Executive and Principal Officer.

The Eskom Pension and Provident Fund (EPPF) is proud to announce the appointment of the first-ever female Chief Executive in the history of the Fund.

Each year the Board of Trustees (“the Board”) of the Eskom Pension and Provident Fund (“the EPPF” or “the Fund”) determines an annual pension increase, in accordance with the Fund’s pension increase policy.

There have been some developments with regards to the unauthorised debit orders that affected some EPPF Pensioners around 31 May 2017.