Chairperson, the MF notes the importance that pensions plays in the lives of many contributing South Africans and their dependence on these funds once they have retired. Even though the Taxation Law Amendment Bill has made way to repeal taxes on retirement funds, it is a legislator's duty to ensure that the necessary legal instruments have been put in place to secure these savings of contributions to the fund.
In view of the Bill, the MF finds the provisions made to clarify the role played in management of the fund as suitable. The MF, however, uses this platform to reiterate its call for a better liveable pension for all retirees. We would consider R1 800 pension to be far more suitable to fulfil the needs and basic necessities of our pensioners.
Free basic health care and a special pension rate for a number of government services and amenities such as food should be considered. The MF supports the Pension Amendment Bill. I thank you.