Dear pensioners 

As part of being a caring pension provider, we are responsible with how we pay benefits. Part of that responsibility means that if you live outside South Africa, you need to provide us with evidence of your existence once a year. We need your Evidence of Survival (EoS) form and it is required by law in order for us to continue paying benefits.

Dear Members

I’m privileged to lead the Fund in its new chapter where we’re again committing to super serving you through our EPPF 2.0 Strategy. The team is busy wrapping up work for the 2023/24 financial year and this has coincided with the appointment of our new board, with effect from 1 June 2024.

Dear Members

Caring for our members is what drives EPPF as an organisation. It’s at the heart of everything we do. Every year, we seek to do better than the previous year. And we’re grateful that you have acknowledged this in feedback during our annual surveys. We take what you tell us seriously and put it into action to improve our service. Last August, we asked for your feedback in our Member and Pensioner Satisfaction Survey and have used that information to make improvements to our service to you. Now, EPPF is conducting a shorter follow-up survey to track the progress that has been made. Once again, by completing the survey you will be added to a weekly prize draw. 

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Dear In-Service Member

We care for you as a member of EPPF. That care extends especially to your loved ones in the event of your death. That’s why it’s important that you let us know your beneficiary information.

Dear Pensioner 

Monthly pension payments are paid by EPPF to pensioners, as well as to the beneficiaries of in-service members or pensioners who have passed away. 

Helping EPPF members understand the Two-Pot Retirement System.

Dear Member,

We have an update for you on the matter of Mr Brian Molefe’s court appeal. His application for leave to appeal an earlier court ruling will be heard by a full bench of the Pretoria High Court early next year. 

Dear in-service member

2024 is moving along briskly and as EPPF prepares for the two-pot retirement system, it is important that you’re familiar with what is being proposed. Here is a recap of the information that you need to know:

Dear Members

I wish you and your loved ones a prosperous and happy 2024. I hope that the year has got off to a wonderful start.  

Dear Member

Incredibly, we’re in the final month of 2023. This has been a productive and exciting year for us as EPPF as we continued our endeavours to improve our level of service to you, our valued members. It’s with a joyful heart that I thank you for your ongoing support.

Dear International Pensioners

EPPF cares for the wellbeing of its pensioners and beneficiaries. That includes being responsible for ensuring we are paying benefits to people we can trace to determine that they are alive. This process is carried out once a year for our pensioners and their beneficiaries who live overseas. We have contacted our pensioners who live overseas three times on the email addresses we have on record to request they provide this proof (evidence of survival) that they have not passed away. 

Dear Members and Pensioners

It has been a busy and productive year for EPPF’s team as we’ve worked hard to deliver positive results. 

Dear in-service member, 

EPPF has been closely monitoring developments with the two-pot retirement system. Now that the proposed implementation date has been moved back from 1 March 2024 to 1 March 2025, we’re busy with our processes so we can be ready to serve you as soon as Parliament gives the legislation the go ahead.

Dear EPPF Pensioner, 

We are pleased to announce the pension increase and discretionary bonus as approved by the EPPF Board.

Dear Members and Pensioners

Your feedback has always been invaluable to EPPF. Based on your ongoing engagement with us, we know that there’s been a growing need to extend our service channels to include Facebook. That’s why we’re thrilled to let you know that EPPF’s official Facebook group will launch in November 2023. 

Dear In-Service Member

The country is about four months away from the expected implementation date of the two-pot retirement system. Based on your enquiries to EPPF, we’ve put together some information to improve your understanding.

Dear International Pensioners

This is a final reminder to those pensioners who live outside South Africa to submit proof that they have not passed away. This proof is referred to as Evidence of Survival. If we do not receive this proof by 31 October 2023, we will suspend your pension payment from 1 December 2023 until we receive the required information.  

Dear in-service member

We’ve put together this explainer to help you understand what the two-pot retirement system means while we continue with member engagement sessions, both online and in-person.

Dear Members and Pensioners

In August last year, we rolled out our Member and Pensioner Satisfaction Survey to find out how we could serve you better. We have worked hard to understand where we could improve and spent much of this year making those improvements. 

Dear Member/Pensioner

The EPPF is a proud, 73-year-old organisation, whose reason for existence and purpose is to protect and advance your interests.  As we grow and learn, your interests remain at the core of what we do. At the same time, we recognise, that as one of the largest pension funds in South Africa, the EPPF is a thought leader within the industry.

Johannesburg, 14 July 2023 – The Eskom Pension and Provident Fund (EPPF) is proud to announce its membership to the Net-Zero Asset Owner Alliance. This is part of the United Nations Environment Programme (UNEP) Finance Initiative which brings together industry role players that catalyse action through their work to deliver more sustainable global economies.

Dear EPPF Pensioner

I want to give you assurance that the EPPF is focused on ensuring the Fund’s interests, and therefore yours as a valued pensioner, are protected. I write to you at a time when our daily news feeds contain reports of natural disasters, social and political upheaval, increasing levels of crime and corruption, infrastructure challenges and rising inflation.

At the EPPF, we’re continuing to navigate these uncertain times with discipline to minimise the negative impact. We’re committed to regular communication with you so you’re aware of matters that are most relevant. 

Here’s a recap of key matters from the past few months.

Dear Pensioner 

Monthly pension payments are paid by the EPPF to pensioners as well as to the beneficiaries of in-service members or pensioners who have passed away. 

Dear Member,

The Financial Sector Conduct Authority (FSCA) has registered Rule Amendment 2, which is a change to the consolidated rules that apply to the EPPF. 

We’re committed to working in your best interests so we sought approval from the FSCA on three matters which now form part of Rule Amendment 2. We have discussed the matters extensively before our Board of Fund approved them. The FSCA has also recently given us the greenlight to implement the amendment. Here’s what it means for you.

The EPPF remains a private pension fund governed by regulation

Dear Member

The EPPF notes media reports that Eskom is to be overseen by the Department of Mineral Resources and Energy. It is currently overseen by the Department of Public Enterprises. As yet, the EPPF has not received any official communication on this matter. We will engage Eskom through our routine meetings to understand if there are implications.

Dear Member/Pensioner

Today we had the opportunity to host our peers and industry stakeholders at out inaugural thought leadership session titled Beyond Tomorrow with the EPPF, where we shared our newly-approved Sustainability Investment Policy. This new policy draws on our experience of the past, and consolidates previous policies such as the B-BBEE Policy; Impact Investment Policy; and the Environmental, Social and Governance Policy into one seamless continuum of principle and action. 

Dear In-Service Members, Deferred Members and Pensioners,

I hope that you’re warm and well.

It’s so hard to believe that three years ago, we were in the midst of the Covid-19 pandemic. It forced people everywhere to find electronic means of keeping in touch. As you know the EPPF managed to support you effectively and with care throughout this time. Part of that care has seen us looking at how we can get services to you most efficiently. One of those components is correspondence with you via traditional mail using the post office. 

EPPF to again oppose Brian Molefe’s appeal effort

Dear Member,

Here’s our latest update on the matter regarding Mr Brian Molefe.

The Eskom Pension and Provident Fund (EPPF) will be opposing the former Eskom Chief Executive Officer’s application now that he has been granted leave to appeal a Pretoria High Court decision. 

Dear In-Service Member

I want to give you assurance that the EPPF is focused on ensuring the Fund’s interests, and therefore yours as a valued in-service member, are protected. I say this in the context of what’s going on globally and here in South Africa. Scanning news feeds, headlines are dominated by a gloomy picture. There are natural disasters, political upheaval, as well as the conflict in Europe. At home, we’re dealing with various matters including floods, politics, potholes, loadshedding and rising inflation.

At the EPPF, we’re continuing to navigate these uncertain times with discipline to minimise the negative impact. And we’re committed to regular communication with you so you’re aware of matters that are most relevant. 

Here’s a recap of key matters from the past few months.

Dear Member 

Happy 2023! I’m excited to wish you and your loved ones all the best for this year. It’s incredible that we’re into the third week of the new year already. I hope that you had the opportunity to relax over the festive season and spend time with friends and family. This December was a lovely departure from the previous two where we were dealing with the pandemic and travel was restricted. 

Dear Member, 

As the curtain prepares to fall on 2022, I take this opportunity to thank you for your ongoing support to the EPPF. You have been incredible in giving us feedback during engagements over the last few months. We commit to continuing to listen to what you have to say, explain to you why we do things the way we do, and look at ways of improving the service we deliver to you. 

EPPF to oppose Brian Molefe’s latest appeal effort

Dear Member, 

Please see the latest update on the Brian Molefe pension matter. 

The Eskom Pension and Provident Fund (EPPF) will be opposing Mr Brian Molefe’s decision to apply for leave to appeal last month’s Pretoria High Court decision. The court dismissed his application for leave to appeal, with costs, on 12 October 2022. The EPPF confirms that Mr Molefe’s legal team gave notice last week that he will petition the Supreme Court of Appeal for the opportunity to appeal or have the Pretoria court’s decision set aside.

Dear Pensioner,

Increase of 4% for all pensions from 1 January 2023

The EPPF Board has approved an increase of 4% for all pensions from 1 January 2023:

• The increase will reflect in your 1 January 2023 pension.
• The increase will reflect in your December 2022 payslip.

People who began receiving pensions from 1 January 2022 will receive prorated increases (according to the number of months their pensions have been paid). 

Dear Member, 

As promised, please find an additional update on the Brian Molefe pension matter. The EPPF will be issuing a letter of demand to Mr Molefe now that the Pretoria High Court has dismissed his leave to appeal application, with costs.

Dear In-Service and Deferred Members,

The Eskom Pension and Provident Fund (EPPF) has valuable information to share with you. 

What is required from you?

Please read the following document carefully. At the end, you will find the details of information-sharing sessions to help you with questions you may have. We have also included our various communication channels should you wish to reach out to us. 

As you may know, the EPPF is a defined benefit fund. This means the EPPF is able to specify how much retirement income employees will get once they retire. Defined benefits rely on actuarial factors in the calculation of the benefit. In your case, the EPPF’s Actuary provides actuarial factors to the Fund, and these are loaded onto the administration system and used whenever a benefit is calculated for a member. 

Dear Member

The Financial Sector Conduct Authority (FSCA) has registered Rule Amendment 1, which is a change to the consolidated rules that apply to the Eskom Pension and Provident Fund (EPPF). 

Rule Amendment 1 has implications for two categories of the EPPF’s members:

· Deferred members

· In-service members

Dear Member, 

As promised, here is an additional update on the Brian Molefe pension matter. The EPPF can confirm that it has repaid the R30 million that was unlawfully paid to it by Eskom in relation to Mr Brian Molefe’s pension matter. This is in line with the Pretoria High Court judgment of 4 July 2022.

You’ll remember the Court ordered both the EPPF and Mr Molefe to repay the money received in respect of the matter. Mr Molefe has sought leave to appeal the decision and has not yet made repayment of nearly R10 million. The appeal process effectively means that the Fund must await the court’s final decision before it can seek to recover the money. The Fund is opposing Mr Molefe’s application to ensure that he adheres to the July court order.

The repayment of the R30 million to Eskom has not been in dispute so the Fund complied with the judgment. 

Chief Executive and Principal Officer Shafeeq Abrahams says the repayment was done in the best interest of our members to ensure compliance with the law. He has added that the Fund remains in a healthy position.

Regards,
Eskom Pension and Provident Fund

Dear Member,

The EPPF is pleased to announce the appointment of Ms Sonja Saunderson as Chief Investment Officer (CIO), with effect from 1 November 2022.

Saunderson has more than 20 years’ experience in investment management including investment philosophy and processes. 

Dear Member,

As promised, here is an update on the Brian Molefe pension matter. The latest is that the EPPF has been notified by its attorneys that Mr Brian Molefe has filed a notice of application for leave to appeal the recent decision of the High Court of South Africa (Gauteng Division, Pretoria). The Fund will be opposing the matter.

In its ruling on 4 July 2022, the High Court directed that Mr Molefe must pay back benefits that were unlawfully received from the Fund. This was a result of the EPPF taking legal action against Mr Molefe to compel him to pay back the money in line with the original court judgment from 2018. Mr Molefe resisted making payment by unsuccessfully appealing the 2018 judgment up to the Constitutional Court in 2019.

Dear Member,

We have committed to keeping you informed on the Brian Molefe pension matter. The latest is that the High Court of South Africa (Gauteng Division, Pretoria) handed down a ruling yesterday following the hearing in March this year. You will remember the EPPF took legal action against Mr Molefe to compel him to pay back the money in line with the original court judgment from 2018. Mr Molefe had appealed the matter all the way to the Constitutional Court in 2019. Yesterday’s ruling means Mr Molefe will have to pay back as directed by the court.
 

Dear Member,

You will have no doubt read about capital market volatility and how its effects are being felt across the world. In this Explainer, our Investment Management Unit, takes you through why, for a long-term investor like the Fund, there is no need to adjust its investment positioning for short-term market volatility. 

Dear Member, 

I write to you at a time when the world at large, and South Africa in particular, is making steady progress in its recovery from the Covid-19 pandemic. However, global optimism has somewhat waned, and increased levels of uncertainty and volatility have in recent weeks come to the fore. This is largely due to the Russian-Ukrainian war and its impact on global markets - the oil price in particular; inflationary pressures and responding increases in interest rates; changes to legislation and regulations governing pension funds in South Africa, and closer to home, the ongoing Eskom unbundling. 

As the Fund, we are monitoring and assessing these developments, and continue to take the necessary steps, as required, to protect and/or advance the interests of the Fund and its members and pensioners. 

In the interim, and keeping with our spirit of accountability, I thought I should provide you a brief update on some of the Fund’s activities for the six months period ended 31 December 2021. 

Dear Pensioner,

ALL THINGS TAX RELATED

As part of our ongoing efforts to keep our pensioners informed, the EPPF would like to provide you with an update around certain tax-related changes which is being implemented in 2022, which may have an impact on you. 

Dear Members,

The Eskom Pension and Provident Fund (“the Fund”) is pleased to announce the appointment of Ms. Thandie Mashego as Chief Financial Officer (“CFO”) with effect from 1 February 2022. This follows the appointment of the then CFO, Shafeeq Abrahams, to the role of Chief Executive and Principal Officer last year. 

Dear Member/Pensioner,

As part of our continued efforts to keep you informed, the Eskom Pension and Provident Fund (EPPF) would like to provide you with the latest information on certain matters relating to the Fund. We would like to thank the members and pensioners for engaging us on these and other matters and for ensuring that the Fund remains accountable and sustainable.

Dear Member/Pensioner,

The Eskom Pension and Provident Fund acknowledges the announcement that power utility Eskom put out on Monday, 20 December 2021, where it stated that it had executed the separation of its transmission division, subject to certain conditions, in line with its restructuring plan.

Eskom said in its statement that under the plan, its generation and transmission units had to be separated by the end of December 2021 and the distribution division by December 2022. It said this remained subject to conditions, including obtaining the applicable consents from creditors but the statement did not elaborate on other conditions or the progress of the separation of its generation unit.

The Fund wishes to confirm that this announcement has no immediate implications on the Fund and pension arrangements of members and pensioners. The current arrangements will continue as usual. Our leadership team is engaging with Eskom on this process. We will communicate any further updates to members as and when new information becomes available. 

Eskom Pension and Provident Fund

The Eskom Pension and Provident Fund (EPPF or the Fund) is honoured to share this year’s Integrated annual report. The report provides transparent, succinct and material information about our performance during the year, and how this contributed to creating and sustaining value for our stakeholders. 

Dear Member,

In one of my earlier communique issued in May this year, I indicated that as the EPPF we “aim to sharpen our focus on our relationship with you, the member, as well as the value we deliver to you. Of importance, is how we communicate and engage with you, as well as how our investment and operational activities respond to your needs in a timely, efficient, effective and empathetic way.”

As 2021 draws to a close, I would like to take the opportunity to update you on the progress the Fund has made in this regard, in what has been a turbulent time. The COVID-19 pandemic presented the Fund with a set of unprecedented and challenging circumstances. Nevertheless, through our digital platforms, we have managed to meet with approximately 5,800 members where we not only shared the Fund’s performance information but also had the opportunity to listen to the concerns of our members. Members have expressed concerns about the safety of their retirement savings, lower than expected annual pensioner increases as well as the lack of access to and engagement with the Fund. We have paid attention and endeavoured to address the issues raised.

Dear Member/Pensioner,

In an effort to keep you updated and informed, we would like to provide the latest information on several matters relating to the Fund. We also want to thank the members and pensioners who participated in our digital engagements – those sessions were very productive and the level of engagement was noteworthy. 

The Fund also recently conducted Member Satisfaction research where members and pensioners provided feedback on their member experience. Thank you to those members who participated in the research – we will be putting together a programme to ensure that we improve our service based on your feedback.

Dear Pensioner/Member,

The EPPF is introducing WhatsApp and USSD functionalities for EPPF members and pensioners with mobile devices. From Wednesday, 13 October 2021, the Fund is changing how it connects and services its members and pensioners with an omni-channel, self-service approach.

SERVICES AND SUPPORT AT YOUR FINGERTIPS

WhatsApp and USSD are widely used by companies from banking to information centres. The Fund intends to use these channels to provide services and support to all our members and pensioners. The platforms have been designed to simplify accessing information, interaction, and communication between the Fund and its pensioners.

It is not too late for you to win big – download the app and win!

The EPPF has been running an exciting competition in the EPPF Mobile App promotion where participants stand a chance to win amazing weekly prizes and gain one entry into the final draw for the iPhone 12 Pro Max and Samsung Galaxy S21 smartphones grand prizes.

Dear Member/Pensioner,

THE ENHANCED EPPF MOBILE APP FINALLY HERE!

Our enhanced mobile app is now live. To celebrate this, we have an exciting competition that will help you get acquainted with the enhancements to the mobile app. Find out how the mobile app can help you with access information at your fingertips by clicking here to watch our introduction video.

Dear Member/ Pensioner,

The Eskom Pension and Provident Fund (“EPPF” or “the Fund”) has amended its Fund Rules, effective 1 April 2021. The Rules were amended and submitted to the Financial Sector Conduct Authority (the “FSCA”) in the first quarter of 2021, and the FCSA has subsequently approved the Rules. 

Dear Member/Pensioner,

As a significant institutional investor within the South African economy, The Eskom Pension and Provident Fund (“EPPF” or “the Fund”), has been closely monitoring the impact of the recent social unrest which has sadly led to a loss of numerous lives and damage to a significant number of properties.

During the COVID-19 pandemic and the various stages of lockdown, the Eskom Pension and Pension Fund (‘EPPF’ or ‘the Fund’) has focused on ensuring minimal disruption to our operations so that we continue to serve our members and pensioners.

Dear Pensioner,

The Eskom Pension and Provident Fund ("the Fund") distributed your electronic tax certificate for the 2021 Tax Year on 1 July 2021.

Please be aware that a fraudulent message has been circulated to EPPF pensioners claiming that some members have won prizes in a competition run by the EPPF.

The EPPF is currently not running any competitions for pensioners or any member group. The Fund will always communicate clearly if there is a competition, we would like you to take part in.

Dear Member/Pensioner,
 

As we draw deeper into the Winter, and having completed my first full month as Chief Executive and Principal Officer of the EPPF, I wish to take this opportunity to express my sincere gratitude for the overwhelming messages of support from you, the Fund’s most important stakeholder.

Dear Member/Pensioner

The Eskom Pension and Provident Fund (EPPF) would like to provide the latest information on several matters relating to the Fund.

The Eskom Pension and Provident Fund (EPPF) Board would like to take this opportunity to bid farewell to an exemplary leader and welcome an able successor.

Dear Member,

We communicated previously that the Eskom Pension and Provident Fund ("the EPPF" or "the Fund") had been the subject of a series of negative reports by the Business Maverick over the past twelve months.

The Eskom Pension and Provident Fund (EPPF or the Fund) is honoured to present this year's Integrated report themed "70 years of caring, value and investment".

Each year the Board of Trustees ("the Board") of the Eskom Pension and Provident Fund ("the EPPF" or "the Fund") determines an annual pension increase, in accordance with the Fund's pension increase policy.

Latest developments on the new system

Our new administration system has now been in operation since May 2020.

The Business Maverick has published several damaging articles about the Fund since January 2020, making various allegations against it.

The COVID-19 pandemic, which started as a global health crisis, has also become a global economic crisis. There have been more than 97 000 confirmed cases of the virus in South Africa so far, and the consequences have been far-reaching for the country's economy.

The Eskom Pension and Provident Fund ("EPPF" or "the Fund") has been advised by Eskom Holdings SOC Ltd ("Eskom") that the Employee Benefits department has been closed. The department previously assisted EPPF pensioners with compulsory death benefit and top-up medical aid queries.

Advanced digital solutions are constantly improving the delivery of services to customers in every aspect of daily life.

On 23 March 2020, President Cyril Ramaphosa announced drastic measures to contain the spread of Coronavirus (COVID-19) - including a nationwide lockdown for 21 days with effect from midnight on Thursday, 26 March to Thursday 16 April 2020.

Each year the Board of Trustees ("the Board") of the Eskom Pension and Provident Fund ("the EPPF" or "the Fund") determines an annual pension increase, in accordance with the Fund's pension increase policy.

Position: Investment Analyst  

“The recipe behind my success is always being ready to grasp opportunities that present themselves,” says Tetelo Mabona, Eskom Pension and Provident Fund (EPPF) investment analyst.

The Eskom Pension and Provident Fund (EPPF) Board is pleased to announce the appointment of Ms Linda Mateza as the new EPPF Chief Executive and Principal Officer.

The Eskom Pension and Provident Fund (EPPF) is proud to announce the appointment of the first-ever female Chief Executive in the history of the Fund.

Each year the Board of Trustees (“the Board”) of the Eskom Pension and Provident Fund (“the EPPF” or “the Fund”) determines an annual pension increase, in accordance with the Fund’s pension increase policy.

There have been some developments with regards to the unauthorised debit orders that affected some EPPF Pensioners around 31 May 2017.