News

MEMBER UPDATE – APRIL 2021

29 April, 2021

Dear Member/Pensioner

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

 

Update on EPPF operations 

The Fund’s operations have been affected by the pandemic since March 2020, following the advent of a full country-wide lockdown mandated by the South African government to combat the spread of COVID-19.

We have put measures into place to ensure that you, our key stakeholder, is safe and protected. This is the reason contingency plans were put in place to minimise service disruptions. While ensuring that you continue to receive service, we also need to protect the health of our employees.

Despite everything that is happening in the country and beyond, the Fund has put the following measures in place since the beginning of the national lockdown:

  • The EPPF Head Office in Bryanston is open but operating with essential staff at the premises – other employees continue to work remotely
  • The EPPF Call Centre is operating within the normal hours (08:00 – 16:45) and employees are being rotated on a weekly basis
  • Walk-in consultations are now allowed on an exceptional basis and by appointment only at the Bryanston and Witbank offices. All consultations taking place in the Bryanston office will take place outside the building. A maximum of five people are permitted inside the Witbank office and no one under 18 is permitted inside.

Contact with the EPPF during this period:

  • All queries can be directed to the EPPF Call Centre via our toll-free number on 0800 11 45 48 (Monday to Friday between 08:00 and 16:45) or via email on info@eppf.co.za.
  • Alternatively, we encourage our members and pensioners to utilise the member portal's self-service functionality. To register or log on to the member portal, please visit www.eppf.co.za.
  • The Fund recently launched a mobile app that is accessible through smartphones where information pertaining to your benefits is available. Visit your smartphone app store (Google Play for Android or App Store for Apple devices) today and search for “Eskom Pension and Provident Fund”. Kindly note that you will need to have been registered on the member portal through the EPPF website to access the mobile app.
  • Queries can also be directed to Retirement Fund Consultants based in the regions - click here for their contact information and how they are assisting members in the various locations.

We will keep members and pensioners updated with any new developments and channels to receive service and communicate with the Fund.

Update on former Eskom GCEO pension pay-out matter

The former Group Chief Executive Officer (GCEO) of Eskom appeared at the Zondo Commission of Inquiry in March and there were questions raised about his pension pay-out.

As the EPPF communicated previously, since 2017, Mr Molefe has appealed the judgment against him to return his pension pay-out to the Fund, through the High Court, the Supreme Court of Appeal, and the Constitutional Court. His Constitutional Court appeal was dismissed in late 2019. The Constitutional Court made a costs award in respect of all three appeals against Mr Molefe. Mr Molefe has settled the cost orders apart from the High Court, which he is disputing.  An application to resolve the matter is pending before the High Court.

The effect of the judgement in the main application is that Mr Molefe should not have been a member of the Fund and therefore he should return any pension monies paid to him and the Fund should refund him the contributions he made to the fund. The Fund has filed its application for the return of contributions with the courts. In response, Mr Molefe has requested that his repayment be offset against the contributions he made to the Fund as well as the transfers from his previous pension savings into the Fund that are still held by the Fund. At the same time, the matter involves the South African Revenue Services (SARS) in that they are required to return any tax paid to it on the amounts paid to Mr Molefe plus any interest on that tax amount. SARS still needs to submit its court papers. Once SARS has filed this, the court will issue a date for the hearing.

The matter is receiving Management’s dedicated attention as we continue working with our legal team through the courts to ensure that this matter is adequately resolved.

As part of learning and improvement of membership controls, the Fund has embarked on a process to review its members to confirm their eligibility for membership. This process is ongoing, and we will report on this matter as soon as it is concluded.

Update on Steinhoff matter

The EPPF, like many other investors, was invested in Steinhoff shares. In December 2017 when news surfaced that Steinhoff may have misinformed investors about certain material information about its operations and that there were improprieties perpetrated by its management, the share price fell considerably leading to investors losing a lot of value on their investments.

These Steinhoff shares formed part of the performance benchmark against which investment performance is measured. The EPPF suffered an investment loss of approximately R1,5 billion, which represented around 1% of the Fund’s investment value during December 2017.

The Fund has since joined a class action lawsuit in the Amsterdam District Court, represented by international lawyers BarentsKrans Attorneys, in an effort to recover some of these losses.

BarentsKrans is exploring all legal avenues available to recover the losses and hold those responsible accountable, including participating in legal proceedings in South Africa where appropriate. Lawsuits of this nature are generally complex and take time to conclude. We are determined to keep a close eye on the proceedings to ensure that the interests of the Fund are protected.

In closing

 We hope that this communication has given you clarity on these matters. You can be assured that the EPPF will continue to hold our members at the centre of everything we do.

Yours sincerely,

Eskom Pension and Provident Fund

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What is the difference between a defined benefit and a defined contribution fund?
Can I borrow money against my pension benefit for a loan or my bond?
What happens if my queries are not getting resolved?
How is the Board of Trustees appointed?
How is a section 37C death benefit distribution determined?
In-service members FAQs
Deferred pensioners FAQs
Pensioners and beneficiaries FAQs
Retirement reform FAQs
uygyugugu kjhiu iji
Can I choose an investment portfolio that my funds can be invested in?
Does the EPPF have both Pension and Provident Fund?
Can you pay my withdrawal benefit to the Eskom Finance Company?
Governance
​EPPF Launches it's Revised B-BBEE Policy
EPPF's Affordable Housing Investment to Positively Impact SA's Development
Update: Unauthorised Debit Orders
Update: Former Eskom GCEO pension pay-out
Bonus and Pension Increase Announcement
Advice: Take a stand against fraud and protect yourself
Impact of Steinhoff International on the EPPF
High court ruling on former Eskom GCEO pension pay-out case
Eskom Pension and Provident Fund (EPPF) appoints first-ever female Chief Executive and Principal Officer
The EPPF Transformation Breakfast
Bonus and Pension Increase Announcement 2018
Board announcement to stakeholders
THE POSITION OF THE FUND ON PRESCRIBED ASSETS
Supreme Court of Appeal ruling on former Eskom GCEO pension pay-out case
Trustee Elections 2019/20
EPPF calls for asset owners to promote transformation at the third EPPF Transformation Breakfast
Repayment of Benefits by Former Eskom GCEO
Appointment of Ms Linda Mateza as EPPF Chief Executive and Principal Officer
RESPONSIBLE INVESTING BY PENSION FUNDS: THE ABC OF ESG
EPPF hosts PEWIN breakfast roundtable
Introduction to Default Regulations
Employee Profile: meet Tetelo Mabona
Introduction to default regulations
2019 PENSIONER INCREASE AND BONUS
Former Eskom GCEO pension pay-out update
Trustee Elections : Voting phase
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UPDATE: EPPF OPERATIONS DURING THE 21 DAY NATIONAL LOCKDOWN AS A RESULT OF COVID-19
Provisional Trustee Election Results
IMPACT OF CORONAVIRUS (COVID-19) AND THE RATINGS DOWNGRADE ON THE EPPF INVESTMENT PORTFOLIO
Trustee Elections 2019/20 results announcement
EPPF and Global ASP matter
EPPF changes to new pension administration system
Announcement - Eskom Employee Benefits department
Announcement: COVID-19 relief special bonus for EPPF pensioners
NEW EPPF BOARD APPOINTMENTS
UPDATE – BUSINESS MAVERICK REPORTING ON EPPF SANCTIONED BY PRESS COUNCIL
Member Update: EPPF's digital transformation journey
MEMBER UPDATE: NOVEMBER 2020
2021 Pensioner increase and bonus
2020 Integrated Report
EPPF Chief Executive and Principal Officer to step down
Member Update: Business Maverick reporting
EPPF appoints new Chief Executive and Principal Officer
Member Regulatory Update
MEMBER UPDATE – APRIL 2021
EPPF INVESTMENT PERFORMANCE UPDATE (Q1, 2021)
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1,2 Testing
Scam alert warning
2021 Tax Certificate re-issue
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Update: Impact of recent social unrest
Withdrawal of retirement savings by active members
Amended Fund Rules
THE ENHANCED EPPF MOBILE APP FINALLY HERE!
Congratulations to all our winners
The Minimum Individual Reserve (MIR) explained
The EPPF partners with Equites Property Fund in logistics deal
EPPF’s Digital Transformation Journey
2022 Pensioner increase and bonus
Message from the Chief Executive
Member Update - October 2021
2021 Integrated Report
Member regulatory update: Release of the Two Retirement Reform Discussion
Eskom splits off transmission division
Member Update - January 2022
Letter to Pensioners
EPPF appoints new Chief Financial Officer
Member Regulatory Update: Regulation 28 Amendments
Pensioner Tax Update
Message from the Chief Executive and Principal Officer
Member Update March 2022
How EPPF members are helping job sustainability
Member Update June 2022
Member Update July 2022
Member Update July 2022
Pensioner Talk - September 2016
EPPF Member Guide
Pensioner Talk - April 2016
Pensioner Talk - July 2015
Pensioner Talk - October 2014
Pensioner Talk - October 2013
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Pensioner Talk - December 2012
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Power Talk - April 2016
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Power Talk - May 2010
Power Talk - March 2009
Power Talk - January 2009
Pensioner Talk March 2017
Pensioner Talk November 2017
Power Talk October 2017
Power Talk March 2018
Pensioner Talk 1st Issue 2018
Power Talk 2nd Issue 2018
Pensioner Talk - 2nd Issue 2018
Power Talk 3rd Issue 2019
August Pensioner Talk 2019
September Power Talk 2019
December Pensioner Talk 2019 (Festive Edition)
December Power Talk 2019
Power Talk May 2020
Pensioner Talk May 2020
Pensioner Talk July/August 2020
Power Talk July/August 2020
Pensioner Talk - November/December 2020
Power Talk - November/December 2020
Pensioner Talk June 2021
Power Talk - June/July 2021
Pensioner Talk November 2021
Power Talk October - November 2021
Pensioner Talk Newsletter April 2022
Power Talk Newsletter April 2022
What is the difference between a defined benefit and a defined contribution fund?
Can I borrow money against my pension benefit for a loan or my bond?
What happens if my queries are not getting resolved?
How is the Board of Trustees appointed?
How is a section 37C death benefit distribution determined?
In-service members FAQs
Deferred pensioners FAQs
Pensioners and beneficiaries FAQs
Retirement reform FAQs
uygyugugu kjhiu iji
Can I choose an investment portfolio that my funds can be invested in?
Does the EPPF have both Pension and Provident Fund?
Can you pay my withdrawal benefit to the Eskom Finance Company?