34-year pension fund scandal rocks Great North Transport
A report suggests pension funds deducted from Great North Transport employee salaries starting in 1990 was diverted for undisclosed activities.
POLOKWANE – The massive pension fund scandal at Great North Transport (GNT) that has been uncovered, revealed that funds deducted from employee salaries over the past 34 years – starting in 1990 – were never directed to pension administrators for processing.
Instead, the money was diverted for undisclosed activities, according to a report from the company’s board of directors.
The extent of the scheme went undetected until 2017, raising concerns about financial mismanagement within the state-owned entity.
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The report further noted that records, including employee salary slips and financial deduction statements, have mysteriously gone missing.
As a result, more than 800 employees, many now elderly or deceased, were left without their expected pension payouts. The scandal came to light in 2016, prompting the Provincial Treasury to launch an investigation in 2023.
Read more: Limpopo Treasury implements plan for missing GNT funds
Following protests led by activist Harry Masindi, through the Make It Happen foundation, forensic reports were shared with affected parties earlier this month.
Current employees impacted by the scheme can still claim their benefits, while the widows, children, and siblings of deceased employees have stepped forward to represent their loved ones.
Read more: Widows protest over unpaid GNT pension funds
GNT spokesperson Leo Gama confirmed progress in tracing the beneficiaries, stating that of the 1 163 affected individuals, 991 have been located, with 172 still unaccounted for. “Forty-five applications are in the final stages of processing and will be completed soon,” Gama said.
The Premier’s Office, which initially treated the issue as an operational matter, has now pledged to ensure accountability.
Spokesperson Ndavhe Ramakuela said that all cases remain active, including those of deceased employees.
He also stressed the importance of consequence management, stating that individuals within GNT or the Limpopo Economic Development Agency found to be responsible for the pension mismanagement will be held accountable.
“We will investigate any involvement, past or present, and identify those liable for the lapses in pension administration.”
