Civil servants taught to spend wisely
They were also informed of the importance of having a pension fund
GOVERNMENT employees in iLembe District were addressed by the KZN Provincial Treasury head, Simiso Magagula at a one-day financial summit held by the Office of the Premier, to empower public servants on handling financial matters.
Known for his belief in financial discipline, Magagula said government wants employees to have skills and discipline to manage their personal finances before they could be trusted with public funds.
Referring to the current difficult economic situation, he said civil servants should know how to manage their finances and remain debt-free, even under trying times.
‘Most of you here are parents. Start teaching your children about budgeting and the importance of saving while they are young.
‘Children must grow with this good habit so that good financial management skills will be in their systems,’ said Magagula.
Magagula was accompanied by National Credit Regulator (NCR), Government Employees Pension Fund (GEPF) and Provincial Treasury employees.
The purpose of the summit was to educate government employees on how best they can manage their money while remaining debt free.
It also looked at the best solutions for those who are already sinking into debt.
They were also informed of the importance of having a pension fund.
Peterson Mbambo of the GEPF said it was important that government employees joined the fund because it was an investment vehicle in their future.
The money collected by the fund would be paid at retirement.
Peterson reminded employees to update their details to avoid fraud.
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