Legal representatives of Transnet pensioners will meet with the company’s management and trustees on Monday to discuss a possible settlement related to the annual increases of the pension fund. Pensioners currently receive a two per cent annual increase annually that is well below inflation.
The pensioners are contemplating the filing of a class action suit against Transnet. Advocate Anton Alberts from the Freedom Front Plus says the recent offer comprises of an annual increase over the next three years, as well as R10 000 annually paid to each person.
Alberts says this will put them in the position they would have been in since 2003, should they have received inflation-related increases. He says this is a good offer considering the current financial position Transnet and the government find themselves in.