Pretoria -- The Financial Sector Conduct Authority (FSCA) says that the ANC owes R86 million in provident fund contributions for at least 535 of its staff members.
In a statement released on Wednesday, the FSCA said that the ruling party had not been meeting its obligations to make regular retirement contributions for its staff.
FSCA said an agreement had been reached with the ANC to pay R10m per month into the fund until it is up to date again.
It also suggested that the fund provides monthly reports about the status of the contributions made by the party.
“The onus on ensuring that there are no arrear contributions, and to consider appropriate action if there are such arrears, remains on the trustees of a fund. Both employers and funds are reminded of the importance of treating their workers and members fairly, by honouring their obligations as enshrined in various legislation”, said FSCA Commissioner Unathi Kamlana.
The FSCA report comes after employees indicated that provident fund contributions have not paid in spite of being deducted from their salaries for the past three years.
According to a staff member, 12 ANC workers have died over the past three years, and their families were battling to access their provident funds.
For now, the FSCA said the ANC may not deduct any further provident fund payments from staff salaries.
The party has been struggling with financial challenges over the past years, leading workers to strike every month before their salaries are paid.
As it is, workers have not been paid their July salaries.
I was vilified for having laid charges (JHB CENT CAS: 523/09/2021) against @MYANC, incl. the non-payment of ret fund contributions into the #StaffProvidentFund, & illegally fired from my job for having blown the whistle about this criminality. This #FSCA statement vindicates me. pic.twitter.com/nCqsbWIn4F
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