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Cosatu welcomes 'long overdue' social security fund

Employers, employees expected to contribute between 8% and 12% of earnings

Siviwe Feketha Political reporter

The government’s proposal of a statutory pension and insurance regime funded through mandatory contributions from workers and employers has received a lukewarm welcome from organised labour and civil society.

The department of social development published a comprehensive social security and retirement reform green paper on Wednesday, which proposes that employers and employees pay up between 8% and 12% of earnings to the new fund. ..

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