Cosatu asks for workers to access retirement funds

South Africa

Johannesburg –Trade union federation Cosatu has submitted an urgent request to Finance Minister Tito Mboweni to allow workers to access a portion of their retirement funds.

The union says this can be used as an income replacement for its members.

Cosatu’s body requested this in a formal letter sent to the minister. The union says a lot of its members are not getting an income because of the lockdown and accessing the money is critical to their wellbeing.

It also says the relief can be limited to no more that is equivalent of six months’ pay.

 

 

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