Strikes, legal action loom in SA pension showdown

clock

SOUTH AFRICA - An ugly pensions battle lies ahead as two of the nation's largest municipal workers unions threatened strikes and legal action following the South African Local Government Association's (SALGA) move to dump municipal employees into a single newly-created fund.

Both the South African Municipal Workers Union (SAMWU) and the Independent Municipal and Allied Trade Union (IMATU) have hit out at the creation of the Local Government Pension Fund, accusing SALGA...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Africa

Africa tipped to lead frontier market growth

GLOBAL - Africa and Russia represent some of the best investment opportunities for funds considering emerging and frontier markets, Danish pension funds heard.

clock 20 May 2011 •

MENA region oversold - Mobius

MENA - Mark Mobius is "cautiously" looking to buy oversold quality companies in the Middle East and North Africa, despite increasing volatility in the region.

clock 15 March 2011 •

MENA region still attractive despite unrest

MENA - The Middle East and North Africa (MENA) still offer investors attractive opportunities despite the current political turmoil, ING Investment Management believes.

clock 04 March 2011 •
Trustpilot