The PIC group announced that they will meet in November to consider options to help the bankrupt state entity Eskom with its debt. Pensioners were given the assurance that the value of pensions would not be “wasted”.
PIC already carries almost R90 billion of Eskom’s debt and more than one million public servants’ pension is currently handled by PIC.
Economists agree that further financial advances to the power provider will not save the entity from its plight.