News

Former Eskom GCEO pension pay-out update

23 December, 2019

Dear Members and Pensioners

In recent months, the matter of the former Eskom GCEO pension pay-out has been garnering extensive media coverage. The matter seems to be nearing its conclusion and the board of the Fund is working to resolve the matter sooner rather than later.

The Fund is fully committed to reaching the conclusion of this matter and abiding by the judgements of the courts. To date, the EPPF has fully cooperated with legal proceedings and exercised all options available to it by law. It is in the best interest of our members to finalise the pension payout matter, however, it is critical that the Fund is not only efficient, but thorough in its actions which must be compliant with the rule of law.

The Fund makes great efforts to stay conscientious of how we expend resources, and the cost of litigating this matter has been viewed with the same discernment. You will appreciate that the Fund, even in litigating, must be conscious of achieving the correct outcome in the most cost-efficient manner.

In response to recent developments, on 13 December 2019, the Fund applied to court for an appropriate order that will enforce the repayment of funds by Mr Molefe and regulate other aspects incidental to such repayment to ensure that the Fund suffers no prejudice. This order will allow the Fund to be able to recoup the monies owed more effectively and expedite the process.

We will keep you updated via alerts on the EPPF website if there are any further developments on the matter.  The Fund, as always, commits to making decisions in the best interests of its members. 

The Fund is also actively seeking to recover the costs, allowable by law, in the High Court, Supreme Court of Appeals and Constitutional Court matters.

Note: As an organisation committed to keeping the member at the centre of everything that we do, we make great efforts to proactively manage the containment of administration costs. While we appreciate the importance of managing perceptions and assuring members that their pensions are safe, it would be highly impractical and costly to send out a member communication in response to every article written on this matter as the media coverage has been astounding. We have made great efforts to ensure that our members are kept updated on developments and that they have confidence that the Fund is taking the appropriate actions.

Regards,

Eskom Pension and Provident Fund

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