R5bn in impairments not about lack of due diligence, says government pension fund

2018-12-05 18:56

The GEPF, which has registered impairments of over R5bn in its investments in Steinhoff’s empowerment partner Lancaster 101 and Independent News and Media SA, says it has no reason to believe it did not conduct proper analysis.

Union heads to court to demand information about PIC decisions

2018-08-16 18:28

The Public Servants Association has filed a court application in a bid to force the release of information relating to the PIC board and the R5bn bridging loan granted to Eskom in February.

PIC hits back at City Press, UDM

2018-07-04 18:42

The Public Investment Corporation has responded to allegations that it carried out its duties recklessly, slamming both media reports and the United Democratic Movement.

Matjila hits out at media for singling out the PIC's questionable deals

2018-06-05 20:01

PIC CEO Dan Matjila has said the state investment manager's portfolio is outperforming benchmarks, and that it is unfair of the media to single out certain transactions.

Nene did not reject PIC transparency amendments, committee told

2018-04-25 05:15

The contention is around the extent to which compulsory disclosure PIC’s listed and unlisted investments that the Democratic Alliance deems non-negotiable may affect the developmental mandate the African National Congress believes the corporation should fulfill.

GEPF must answer for Eskom's R5bn bailout - PSA

2018-02-10 07:00

The Public Servants Association wants the Government Employee Pension Fund to provide answers for the R5bn bailout for Eskom.

GEPF protected, but JSE must take action against Steinhoff - Fedusa

2017-12-11 17:50

Trade union federation Fedusa has met with the PIC to survey the damage of the Steinhoff fallout on government employee pensions.

PSA threatens court action against Gigaba to settle its demands

2017-11-28 19:42

The Public Servants Association says that if Finance Minister Malusi Gigaba does not agree to its demands to have better representation on the Public Investment Corporation’s board, it will settle the matter through the courts.

PIC mandates make state capture a tricky matter - Matjila

2017-10-31 14:20

It will be difficult to capture the Public Investment Corporation as it has mandates with its clients that prescribe how their funds are managed, says its CEO Dan Matjila.

Vigilance needed with pensioners' money - GEPF chair

2017-10-18 16:24

The board of the Government Employees Pension Fund needs to be vigilant as there appears to be a temptation to view it as a source of funding for the fiscus, the fund’s chairperson Renosi Mokate has told Parliament.


Government working on reforms to lift economic growth, Nene assures

2018-09-10 22:46

Introducing economic reforms could add two to three percentage points to real GDP growth over the next 10 years, says Finance Minister Nhlanhla Nene.

UDM: Treasury must explain where government pension billions went

2018-07-05 17:55

UDM leader Bantu Holomisa has asked Finance Minister Nhlanhla Nene to explain an allegedly improper relationship between the Public Investment Corporation and companies linked to its former employees - involving over R8bn of state employees' retirement funds.

Mkhize's R4.5m kickback allegations ‘malicious’- PIC

2018-06-11 20:02

The Public Investment Corporation has slammed a report that CoGTA Minister Zweli Mkhize earned R4.5m in kickbacks as “malicious” and “patently false”.

Matjila: I don't know where 'rumours' of suspension are coming from

2018-05-31 16:20

The CEO of the Public Investment Corporation was speaking to the media on the sidelines of a meeting in Parliament.

R5bn Eskom loan is smart investment, argues PIC

2018-02-12 16:05

The Public Investment Corporation, in a letter to a parliamentary committee, has argued that its recent R5bn loan to Eskom will be paid back with an above-market interest rate.

Govt pension fund wants seat at the Steinhoff table in future

2017-12-13 18:19

SA's government employees pension fund and its asset manager the Public Investment Corporation will insist on appointing two independent directors to Steinhoff’s board following its dramatic share price collapse.

Steinhoff fallout: Fedusa, PIC to discuss pension damage control

2017-12-11 12:22

Union Fedusa is to meet the Public Investment Corporation over the Steinhoff meltdown to find ways of salvaging workers' pensions managed by the PIC.

Government pension fund says it is 'over-exposed' to SA economy

2017-11-14 20:29

The Government Employees Pension Fund is “over-exposed” to the South African economy and this needs to be addressed, says Abel Sithole, the fund’s principal executive officer.

Parliament agrees with unions: pensioners' money can't bail out SOEs

2017-10-18 19:59

Yunus Carrim, the chairperson of Parliament's oversight committee on finance, also questioned why Finance Minister Malusi Gigaba earlier this month ordered an audit of the Public Investment Corporation.

PIC's Dan Matjila: We haven't closed the door on SAA

2017-10-17 13:32

The Public Investment Corporation, which manages government employees' pension money, says it will still consider investing in ailing national carrier SAA.

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