Mboweni Asks For Workers To Access Portion Of Retirement Fund
The Finance Minister requests for South African workers to have access to a portion of their retirement fund in difficult times.
Tito Mboweni, the Finance Minister, made the request during a press briefing on Wednesday. The briefing took place where Mboweni and the National Treasury availed the country’s Economic Support Package during COVID-19 restrictions and public unrest in Gauteng and KwaZulu-Natal.
“It's a matter which has to do with making an allowance for workers to have access to a percentage of their retirement funds in these times of difficulty,” said Mboweni.
Mboweni aims to encourage the National Treasury to “speed up this matter”.
The Finance Minister believes that by allowing workers access to a percentage of their retirement funds, they may be able to settle bond repayments or settle their debt.
“But I must warn at the same time that people must ensure that they use this facility for purposes of relief and also making better their own situation,” said Mboweni.
The package has been presented to Parliament as per legislative requirements.
When money is being appropriated for one purpose or the other, procedures and process need to be followed. The Finance Minister is responsible for implementing these procedures and processes.
“To that extent, we have to approach Parliament as well, in one form or the other, in order for these appropriations to be fairly and fully within the legal system”, said the Minister.
Mboweni stated the importance of ensuring that the package is funded within “currently available resources”.
“We are not going to be going for borrowing, at all. I think that must be clear. This is not in any way going to include or increase our borrowing requirement. We will obviously make sure that where needs be, in terms of the package of measures,” said Mboweni.
A police officer in the North West has been reportedly dismissed from work for allegedly impregnating a prisoner. It is also alleged that the pregnant inmate was awaiting trial for murder and expected to be sentenced to 30 years in jail.
There are looming concerns that elections could become a super spreader event as South Africans prepare to go to the polls on October 2021. The fourth-wave has already been predicted by health expects in December, and going to the polls could be confirming the possibility of the fourth-wave.
Even though the country has a good supply of the COVID-19 vaccine, the Department of Health is still struggling with the issue of vaccine hesitancy among the citizens of South Africa. Despite the statics which shows that majority of infected patients in hospitals are those who are not vaccinated, vaccine hesitancy is still a problem.
Most popular articles today
The Groote Schuur hospital has recently released a report which highlighted that a significant number of its Covid-19 patients are unvaccinated. Reports said about 156 were hospitalised and 153 of those patients were not vaccinated.
Did you watch 'The Braai Show With Cassper Nyovest'? Former Miss Universe and beautiful Zozibini Tunzi joined Cassper Nyovest on Wednesday evening for the first episode of 'The Braai Show With Cassper Nyovest' as the first guest of season 2.
Deputy President David Mabuza is calling on all citizens to get vaccinated to lower the country's infection rate. He was speaking during the launch of the Vaccination Social Mobilisation campaign that has been launched in collaboration with the Department of Sports, Arts and Culture.
Other people were also interested in:
Health regulator, SAPHRA, is calling on all members of the public to report any side effects experienced after inoculation through official channels. Here's how members of the public can go about doing it.
At least 337 cases of alleged corruption in government departments have been reported to the National Anti-Corruption Hotline (NACH) in the period between April and the end of June this year. This is according to a report released by the Public Service Commission (PSC) on Thursday
There are calls for mass media to dedicate vaccination campaigns based on science and evidence to prime time slots. This follows concerns around vaccine hesitancy as a result of the spread of misinformation about the safety of vaccines.
Organised labour unions are calling for the permanent introduction of a basic income grant in South Africa starting next year. This comes at the back of reports that unemployment in the country has sky-rocketed to 34%.