Mbabane – PSPF Chairperson Dominic Nxumalo said that there are forces that want to see the Public Service Pension Fund (PSPF) collapsed.
Speaking at the closing of the PSPF sixth stakeholder engagement forum on Thursday, Nxumalo said members need to mobilise and engage the parliament processes following the calling of public submissions on the Eswatini National Pension Fund (ENPF) Bill. This window allows for members of the public to make oral and written submissions before the responsible Parliamentary portfolio committee.
PSPF says it has at least Clauses 3, 69 and 107of the ENPF Bill may need to be reviewed. Clause 3 talks about definition of a occupational scheme which PSPF says it is not one of such. Clause 69 talks about double dipping which PSPF says it creates ambiguity and must be rewritten or removed while Clause 107 states that the employer will not contribute to ENPF in excess of what they are already contributing. PSPF says the government does not contribute to it.
Nxumalo said they have in the past used the damage control approach which he said was used in the attempts of reversing the categorisation of the PSPF as a Category A parastatal. He said the ENPF conversion must not also be a damage control.
“Damage control is usually difficult to resolve. One needs prevention measures… We must not end with this engagement and end it there. The people with their unknown evil agendas are continuing wanting to collapse this fund. Ours is to get out of here and mobilise each other. We must prevent the passing of the Bill in its current form. If it does, we are dead alive,” he said.
Nxumalo thanked the PSPF management for being transparent with the stakeholders. He also acknowledged that the fund projected accountability and affording of the members the right to freely express themselves.
Nxumalo said PSPF must sustain the stakeholder’s forum, ensuring that it grows yearly so that it brings issues that would enable stakeholders to protect and defend their fund.
“I came to defend and protect the fund. While I do this, I am taken on board on the investment options and other business. We also give inputs on what management reports to the board. So I thank the management for the reports. I also encourage that PSUs continue to have meetings with the PSPF management,” he said.
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