Cosatu & Numsa Skeptical Over Pension Fund Withdrawls


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Labour federation Cosatu and the National Union of Metal Workers SA (Numsa) expressed their skepticism over Finance Minister Tito Mboweni’s financial interventions to help struggling workers.

The two unions took particular issue with Treasury’s proposal to allow South Africans to withdraw a portion of their pension savings. This, as limited withdrawals from pension funds, would soon be allowed to cushion the impact on those who lost their jobs during the pandemic.

Cosatu and Numsa slammed Mboweni’s stance on the Public Service Wage Bill, saying it should be decreased.

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May 16, 2022
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