ActionSA Calls for Investigations into the Disappearance of R300 Million in Pension Monies of the Employees of Great North Transport

ActionSA is shocked to learn that scores of Great North Transport former employees are yet to be paid their pension monies years after the company declared liquidation.

It has been well established that the Great North Transport bus company belongs to the Limpopo Provincial Government. To date, more than 800 current and former employees of Great North Transport have been left bereft of their retirement savings, as R300 million of the pension fund’s monies mysteriously disappeared.

It is for this reason that ActionSA has written to the Hawks Special Investigation Unit to get to the bottom of this sad and unacceptable state of affairs at the state-owned transport entity with urgency.

It has been said that Great North Transport failed to pay the employees’ contributions to the pension fund administrators and made short payments for a period of 17 years. This is despite the fact that deductions had been made from the employees’ salaries, which is in breach of the Pension Funds Act 24 of 1956.

Seemingly, the employees’ pension fund contributions were instead used as cash flow to fund the operations of Great North Transport.

Corruption steals from the poor and these individuals’ futures have been curtailed and their lives have been seriously damaged.