Eskom can now finally force Brian Molefe to pay back millions to pension fund
In another setback for former Eskom CEO Brian Molefe, the power utility can now enforce an order to recover the millions he owes the Eskom Pension and Provident Fund (EPPF).
This emerged from Eskom's briefing to Parliament's Standing Committee on Public Accounts (Scopa) on Wednesday and brings the years-long battle between Molefe and Eskom closer to a conclusion.
In 2018, the North Gauteng High Court in Pretoria directed Molefe to return his "patently unlawful" pension payouts in a case brought by trade union Solidarity and the Democratic Alliance.
This judgment was confirmed by a second ruling in July this year, where Molefe was ordered to pay back R9.9-million, plus interest, to the pension fund. The same ruling required the fund, in turn, to pay back the R30-million it had received from Eskom. Molefe then sought leave to appeal the ruling, and Eskom said the fund had subsequently repaid the R30-million.
Eskom group executive for legal and compliance Mel Govender said on Wednesday that, after protracted detours in the accountability process, Eskom could finally enforce the order to recover the funds.
"We have secured an order against Brian Molefe's pension. Subsequent to the order, Molefe has applied for leave to appeal. This appeal has been dismissed, meaning that now Eskom can enforce the order," said Govender.
Govender said Molefe has to pay the EPPF the difference between the pension benefits paid to him and the lump sum pension benefits payment he had transferred from the Transnet Retirement Fund to the EPPF. Molefe must calculate the difference between these amounts and pay within 10 days after the calculation is received.
Eskom CEO André de Ruyter said the utility implemented steps to freeze the pensions of people who are being investigated to discourage the avoidance of avoid disciplinary proceedings.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation