1. Any resolution taken by the Funds for payment of an ad hoc bonus in line with the Rules of the Funds will be considered for approval. There is no provision in the Rules of the Transnet Second Defined Benefit Fund and Transport Pension Fund (”the Funds”), that limits the number of bonuses payable. Ad hoc bonus payments are subject only to affordability, as certified by the Funds’ actuary. The payment of an ad hoc bonus is initiated by the Funds.
2. All requests from the Funds for approval of any ad hoc bonus payment are considered in a timely manner.
Mogokare Richard Seleke Lynne Brown, MP
Director-General Minister of Public Enterprises
Date: Date: