For pensioners or the Party?


For pensioners or the Party?

Funds belonging to government employees are vulnerable to risky investments.

The PIC (Public Investment Corporation) has little to prove, with – by its own reckoning – at least R1.6 trillion worth of assets under its management. This entity, wholly owned by the South African government, manages funds belonging not to the government, but to government employees. By definition, this means that, like Fort Knox, the PIC is vulnerable.

Can people other than the owners get to the loot? Watch this space.

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