DEPARTMENT: PUBLIC ENTERPRISES
REPUBLIC OF SOUTH AFRICA
NCOP
QUESTION FOR WRITTEN REPLY
QUESTION NO.: 273
DATE OF PUBLICATION: 05 August 2011
273. Mr K A Sinclair (COPE-NC) to ask the Minister of Public Enterprises:
Whether his department or any entity falling under his department has taken
a decision to pay out bonuses to certain members of the Transnet Pension
Fund; if not, what is the position in this regard; if so, what are the
reasons for selecting members of one fund only? CW336E
REPLY
With effect from 31 March 2007, the Rules of the Transnet Second Defined
Benefit Fund (TSDBF) provide the trustees of the TSDBF with the power to
make bonus payments to the pensioners of the TSDBF. The rules of the
Transnet Sub Fund of the Transport Pension Fund do not currently contain
this rule, however, amendments to the rules are being finalised. These rule
amendments and the bonuses paid are independent decisions taken by the
trustees of the respective funds and not Transnet.