EPPF welcomes court judgment in Brian Molefe pension matter
6 Jul, 2022

Johannesburg, 5 July 2022 – The Eskom Pension and Provident Fund (EPPF) has welcomed the court decision ordering Mr Brian Molefe to pay back benefits unlawfully received from the pension fund.

The decision of the High Court of South Africa (Gauteng Division, Pretoria) was delivered yesterday following the hearing in March this year.

The EPPF took legal action against Mr Molefe to compel him to pay back the money in line with the original court judgment from 2018. Mr Molefe had appealed the matter all the way to the Constitutional Court in 2019.

The legal action taken by the EPPF included asking the High Court to determine and order how much needed to be repaid considering Mr Molefe’s own contributions to the Fund while he was an employee of Eskom, his accumulated retirement savings transferred to the EPPF from his previous employer, as well as the related tax implications and applicable interest.

In terms of the judgment, and in line with what the EPPF requested the court to adjudicate, Mr Molefe has been directed to pay back amounts received by him plus interest and legal costs. The EPPF is now allowed to set off a portion of this amount against the money that was transferred from Mr Molefe’s previous retirement savings to the Fund. The EPPF will also pay back to Eskom the balance of the money that it had received from the power utility in respect of Mr Molefe’s retirement.

As a Fund, the EPPF remains steadfast in protecting and advancing the interests of its members and pensioners. Chief Executive and Principal Officer Shafeeq Abrahams explains, “We continue to invest time and resources in ensuring solid pension fund management that delivers the required financial returns to our members, and makes a positive impact on society through good governance and responsible leadership.”

ENDS.

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