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Pensioners win appeal against Transport Pension Fund

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There’s a ray of hope for about 60 000 impoverished Transnet pensioners. This after the Constitutional Court ruled in their favour, allowing them to appeal previous High Court orders.

The pensioners hope to proceed with a class action to seek billions from two pension funds. They earlier brought a lawsuit against the Transport Pension Fund and the Transnet Second Defined Benefit Fund and Transnet in the High Court.

The pensioners wanted the court to declare that they had broken a “promise” made in 1989 before the South African Transport Services (SATS) became Transnet. It related to the annual increase of members’ pensions, which is significantly lower than promised.

With the ConCourt ruling, they’ve crossed another hurdle in a drawn-out legal battle.

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