DURBAN - Trade union Solidarity said on Friday that its mandate was to protect pension money and it would "strongly oppose" any attempts to finance SOEs with the funds, which could include court action.
"Pension money represents the red line and Solidarity will not sit back and watch how people’s pensions are being looted," said Connie Mulder, head of the union's research institute.
Trade union federation COSATU said on Thursday that one of the proposed economic interventions to get embattled power utility Eskom flush again could entail using state pensions to pay off its R450 billion debt.
“Solidarity finds it inconceivable that COSATU would propose that any pension monies be used to settle Eskom’s debt. This is the epitome of the ruling alliance’s intentions to put your money where their mouth is.
"Solidarity will leave no stone unturned – pension funds should not be used to fund government’s failed ideology,” said Mulder.