Legal documents served on Transnet over pension funds

01 Feb 2016 | Admin Author

Legal documents have been served on Transnet and two of its funds regarding a class action suit over pension funds

Attorney Wynanda Coetzee, for the pensioners, says Transnet, the Transport Pension Fund and the Transnet Second Defined Benefit Fund have 15 days to respond.

She says it had recently come to her law firm's attention that there are concerted efforts by various parties to distort the true facts of the current court action.

According to a weekend news report, about 66 000 pensioners are involved in the civil claim to recover about R79 billion which they claim Transnet plundered from their pension funds.