Brian Molefe, third time unlucky, over Eskom pension payout appeal

Gordon_R

Executive Member
Joined
Jul 5, 2009
Messages
6,411
#21
Just for completeness sake, he wasn't paid the whole R30m, just R11m which he is fighting to not have to pay back...

His role in state capture is a different story though.
Pensions can never be paid out fully as a lump sum (only other types of benefits can). Normally one third in cash, with the rest in monthly installments.
 

Gordon_R

Executive Member
Joined
Jul 5, 2009
Messages
6,411
#24
Yeah, especially if you had only had a few years months of thieving service at the company!!
FTFY. Most of the salary and pension were (illegally) backdated.

Original details: https://city-press.news24.com/News/...-pension-payout-he-wasnt-entitled-to-20171020
Eskom asked the fund in August 2016 to calculate Molefe’s pension if they applied two rules where Eskom bought 13 additional years of service for Molefe and waived certain penalties once Molefe turned 50.

They calculated that Molefe, who turned 50 in January 2017, would have received a R25.9 million pension payout.
Luthuli explained how they calculated the R30.1 million.

He said they took his gross pension payout according to the 16 months he had worked at Eskom (using his R5.6 million salary) and calculated his gross pension as if he had worked 156 months (which was his 13 years of additional service bought by Eskom).

They then added an amount as a result of his younger wife. This amount then took his total payout to R30.1 million.
 

NarrowBandFtw

Honorary Master
Joined
Feb 1, 2008
Messages
15,451
#26
It is insane that he has not yet been arrested.
in a civilized nation it would be insane
in South Africa it is par for the course, I'd be shocked if he or anyone ranking higher than him gets arrested, Jesus will return before Zuma sees the inside of a prison cell that's for damn sure
 

diesel

Expert Member
Joined
Mar 4, 2007
Messages
2,150
#27
I think its time to confess mr Molefe , tell the world how you looted eskom on behalf of Zuma and the guptas
 
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