Mboweni warns against using government employee pension savings

Finance Minister Tito Mboweni has cautioned against relying on government employee pension savings as the only source of funding to rescue Eskom.

Mboweni addressed the media in Parliament on Wednesday after he delivered his budget speech.

He says the money should rather come from the pension funds of all South Africans.

Mboweni says the Congress of South African Trade Unions’ (Cosatu) proposal to rescue Eskom using state pension funds is not a bad idea.

He says, “It’s not a bad idea actually but I think we must be very careful that we are not suggesting that only the public service workers pensions must be used to solve Eskom’s problems. If we are going the pension route, it must be also the trade union movement must be very careful that the proposal they must not be about public servants pensions but all pensions.”