UASA Media Release: 21 September 2021
Statement by Abigail Moyo, spokesperson of the trade union UASA:
UASA is shocked and disappointed to learn that the Salt Employee Benefits (Salt EB), a company that customises employee benefits, allegedly misappropriated funds of a client, the Private Security Sector Provident Fund (PSSPF), a pension fund for security guards.
According to the Financial Sector Conduct Authority (FSCA), the government agency that investigated the matter, it is alleged that Salt Employee Benefits ransacked the retirement savings of our members and other non-members of UASA within the security sector. The investigation found that the looted funds amounting to R17 million were spent on cars, football tickets, donations, etc.
The looting of funds in the private sector is disheartening. Most security guards are not working in a highly paid environment and those that manage to save for their retirement make sacrifices to do so.
UASA strongly condemns those in authority, whether in the private or public sector, who abuse funds meant to assist workers after retirement.
Fund looting by those in power has become something of a parallel pandemic. If found guilty, UASA hopes the correct channels will be followed to hold those involved accountable.
For further enquiries or to set up a personal interview, contact Abigail Moyo at 065 170 0162.