Limpopo government-owned bus company, Great North Transport (GNT), has issued a statement on growing reports that its current and former employees are battling to access their pension funds.
The management of the company have allegedly failed to pay their contributions to pension fund administrators. Allegedly for more than 17 years despite making deductions.
EMPLOYEES OWED PENSION FUND ISSUE
It is alleged that more than 800 employees of the Polokwane based company have been left high and dry after R300 million of their pension fund vanished.
But in a statement issued on Tuesday, GNT said they were fully committed to seeing the process finalised.
“The company through its Chief Executive Officer, Dr Matata Mokoele has taken a firm decision not to rest. Until all outstanding benefits are paid to deserving beneficiaries. Over the weekend of 27 April 2023, unnerving allegations were circulated in the media. Alleging that GNT is reneging on its commitment to fulfilling payments obligation as previously stated following the dissolution of the liquidation process,” read the statement.
GREAT NORTH TRANSPORT MAKE 84 PER CENT PAYMENTS?
“As GNT, we are satisfied with the progress to date. We can confidently announce that 84% of payments of the outstanding benefits to former employees or appointed beneficiaries of the total of 1163 applications were successfully processed and paid. In cases where beneficiaries have not received their benefits, or payment not successfully paid. It is due to non or late submission of required documents,”
“Which include banking accounts being closed, tax clearance queries; and non-submission of application forms or members not showing up.”
The company insists the process of identifying outstanding beneficiaries who are still yet to receive their benefits is ongoing.
“We are very happy with the progress thus far. It is our wish and priority to see all our beneficiaries receiving what is due to them,” said Mokoele.
Mokoele added that they invite any of its former and current employees who may need support in this regard. They can visit their offices and verify the status of their pension funds.