South Africa. Thousands of Transnet pensioners pin hopes on Constitutional Court
About 60‚000 Transnet pensioners have pinned their hopes on the Constitutional Court as they seek to proceed with a class action to seek billions from two pension funds. On Thursday‚ the court heard their appeal against a Pretoria High Court order from last year.
Transnet pension fund recipients brought a lawsuit against the Transport Pension Fund and the Transnet Second Defined Benefit Fund and Transnet in the High Court last year.
The pensioners wanted the High Court to declare that the pension funds and Transnet had broken a “promise” made in 1989 before the South African Transport Services (SATS) became Transnet.
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