ATM accuses govt of failing to monitor workers’ pension funds
The African Transformation Movement has accused the ANC-led government of failing to address the widespread exploitation of workers’ pension funds.
According to the party, 82 per cent of South African companies did not remit pension contributions in 2023/2024, reflecting severe mismanagement and corporate greed.
ATM spokesperson Zama Ntshona says there’s an immediate need for measures to recover the lost funds and hold accountable those responsible.
"It is the responsibility of the government to monitor and evaluate their processes. It means that they have been failing to detect on this grand scale the theft that has been conducted, especially by private businesses, and they have been doing so, victimising South Africans. As leaders in government, they must take responsibility."
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He says the Department of Labour must also explain how they failed to detect the lost funds.
"The first thing is that we must recover the money. They must willingly pay it, or we recover the money from the businesses. We must then look into responsible persons within those companies who have not been remitting what they have actually collected."
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