Former Eskom CEO Brian Molefe has been ordered to pay back pension benefits he received when he left the state-owned entity.
Eskom Pension and Provident Fund (EPPF) made the announcement after the court order made by the North Gauteng High Court in Pretoria. The judgment was delivered on Monday after a hearing in March.
“In terms of the judgment, and in line with what the EPPF requested the court to adjudicate, Mr Molefe has been directed to pay back amounts received by him plus interest and legal costs,” said the fund in a media statement.
“The EPPF is now allowed to set off a portion of this amount against the money that was transferred from Mr Molefe’s previous retirement savings to the fund. The EPPF will also pay back to Eskom the balance of the money that it had received from the power utility in respect of Mr Molefe’s retirement.”
The EPPF said it had taken the legal action to force Molefe to pay back the money in line with the original court judgment from 2018 which found that his early retirement package was unlawful.
“Mr Molefe had appealed the matter all the way to the Constitutional Court in 2019. The legal action taken by the EPPF included asking the high court to determine and order how much needed to be repaid considering Mr Molefe’s own contributions to the fund while he was an employee of Eskom, his accumulated retirement savings transferred to the EPPF from his previous employer, as well as the related tax implications and applicable interest,” read the media statement.
The fund's CEO and principal officer Shafeeq Abrahams said: “We continue to invest time and resources in ensuring solid pension fund management that delivers the required financial returns to our members, and makes a positive impact on society through good governance and responsible leadership.”
Molefe left Eskom in 2016 after then public protector Thuli Madonsela released the state of capture report which found that Molefe enjoyed close relations with the Gupta family members, whose companies were benefiting from Eskom contracts.
When SowetanLIVE contacted Molefe on Tuesday, he said there was no amount he was supposed to pay. "Ja... it depends on Sars (SA Revenue Service) and so on and they must still calculate how much they owe me and so on."
Molefe, however, declined to comment further, saying he was yet to read the judgement properly.
"I must read it (court judgement) properly and take legal advice," said Molefe.
Former Eskom boss Brian Molefe ordered to repay pension benefits
Fund allowed to offset figure against retirement savings
Image: Alon Skuy
Former Eskom CEO Brian Molefe has been ordered to pay back pension benefits he received when he left the state-owned entity.
Eskom Pension and Provident Fund (EPPF) made the announcement after the court order made by the North Gauteng High Court in Pretoria. The judgment was delivered on Monday after a hearing in March.
“In terms of the judgment, and in line with what the EPPF requested the court to adjudicate, Mr Molefe has been directed to pay back amounts received by him plus interest and legal costs,” said the fund in a media statement.
“The EPPF is now allowed to set off a portion of this amount against the money that was transferred from Mr Molefe’s previous retirement savings to the fund. The EPPF will also pay back to Eskom the balance of the money that it had received from the power utility in respect of Mr Molefe’s retirement.”
The EPPF said it had taken the legal action to force Molefe to pay back the money in line with the original court judgment from 2018 which found that his early retirement package was unlawful.
“Mr Molefe had appealed the matter all the way to the Constitutional Court in 2019. The legal action taken by the EPPF included asking the high court to determine and order how much needed to be repaid considering Mr Molefe’s own contributions to the fund while he was an employee of Eskom, his accumulated retirement savings transferred to the EPPF from his previous employer, as well as the related tax implications and applicable interest,” read the media statement.
The fund's CEO and principal officer Shafeeq Abrahams said: “We continue to invest time and resources in ensuring solid pension fund management that delivers the required financial returns to our members, and makes a positive impact on society through good governance and responsible leadership.”
Molefe left Eskom in 2016 after then public protector Thuli Madonsela released the state of capture report which found that Molefe enjoyed close relations with the Gupta family members, whose companies were benefiting from Eskom contracts.
When SowetanLIVE contacted Molefe on Tuesday, he said there was no amount he was supposed to pay. "Ja... it depends on Sars (SA Revenue Service) and so on and they must still calculate how much they owe me and so on."
Molefe, however, declined to comment further, saying he was yet to read the judgement properly.
"I must read it (court judgement) properly and take legal advice," said Molefe.
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