1. Based on the actuarial valuation results as at 31 March 2016, the amount required to pay a 10% bonus to all pensioners of the Transport Pension Fund (TPF), i.e. Transnet Sub-Fund, SAA Sub-Fund and PRASA Sub-Fund is R37.7m and for the Transnet Second Defined Benefit Fund (TSDBF) the amount is R172.4m. The Rules of the respective Funds contain a provision that authorises for the payment of ad hoc bonuses. These amounts are paid from the actuarial surplus of each of the Funds, amounting to R4.325 billion for the Transport Pension Fund and R3.807 billion for the TSDBF
2. There is currently no provision in the respective Fund Rules to utilise the surplus to increase the base of the pension.
3. The Shareholder Minister is unable to consider an increase in the base of all pensions as this is not provided for in the pension fund rules.
4. The pending class action court case has no impact on the matter. The rules of the funds guide action related to the pension funds.