1 minute read
3 Oct 2014
7:54 pm

Transnet’s pension appeal bid rejected

Transnet's application for leave to appeal a ruling allowing their pensioners to bring a class-action suit was dismissed by the High Court in Pretoria on Friday, the FF Plus said.

Picture: Thinkstock

“Judge [Ephraim] Makgoba clearly stated that according to him there are no grounds for an appeal and he confirmed it by awarding costs against Transnet and the pension funds,” spokesman Anton Alberts said in a statement.

Transnet and its two pension funds applied to the court for leave to appeal the judgment handed down in favour of the pensioners in July.

On July 31, Makgoba granted an order allowing pensioners Johan Pretorius and Johan Kruger to launch a class action suit on behalf of Transnet’s 62,000 impoverished pensioners, in an attempt to recover close to R80 billion in assets and interest.

The group has accused Transnet of stripping the Transnet Pension Fund and Transnet Second Defined Benefit Fund of its assets and mismanaging them to such an extent that the funds were unable to meet their obligations to members.

They accused Transnet of attempting to dissolve the pension fund.

Alberts said the FF Plus would ask Transport Minister Dipuo Peters in Parliament whether Transnet would be prepared to settle the case.

“The FF Plus is delighted with the announcement that the Transnet pensioners have won another round in court in their struggle for dignified pension benefits.”

Transnet spokesman Mboniso Sigonyela said they noted the high court’s decision.

“We will comment once we have studied the judgment,” he said.