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"Lay-off our pension funds" says UASA

26 Jun 2012

While the African National Congress is considering, at its policy conference in Gallagher Estate, using state pension funds to back infrastructure development trade, union UASA tells government that it must leave its funds alone.

Times Live quotes UASA's spokesman Helen Ueckermann as saying the "immoral plan" must be abandoned out of respect for the country's workers.

She says the risk of fraud and corruption is considerable and it's doubtful that the state will create investment opportunities for pension funds that provide a good return on investment. She says the millions invested in e-tolling is a "frightening case in point".

Meanwhile, the ANC is considering implementing a fuel levy to pay Gauteng's bill of R20-billion for upgraded roads and suggests a special "once-off" tax for companies making "super profits" to help pay the costs.

Both these issues will also be debated at the conference.

Read "UASA tells ANC: hands off our pensions" on www.timeslive.co.za.
Read "ANC rethinks e-tolls" on www.timeslive.co.za.
For more info on the UASA, go to www.uasa.org.za.