Former Eskom CEO misses deadline to pay back pension money

The Eskom Pension and Provident Fund has confirmed that it received no payment on Thursday from former Eskom CEO Brian Molefe, for the more than R10m he was paid by the fund.

This means Molefe has missed the deadline determined by the courts to return the money, which was found to have been paid to him unlawfully.

In January last year, the North Gauteng High Court in Pretoria ruled that the payout, facilitated by an early retirement agreement with the board, was unlawful and should be set aside. Molefe was directed to pay the money back to the EPPF within 10 days. This was deferred, however, when Molefe attempted various appeals against the ruling. Three courts – namely the High Court, Supreme Court of Appeal and the Constitutional Court – all ruled against him on the matter.

Following a legal costs order, Molefe had until Thursday to pay union Solidarity R708 102. The EPPF also confirmed to Fin24 that Thursday was the deadline for Molefe to pay the funds relating to the pension payout.

On Friday afternoon, however, the EPPF told Fin24 no payment had been received from Molefe the previous day and that they would be taking further action “promptly”.

“The fund confirms that as at today, 23 August 2019, no payment has been received from Mr Molefe. We have instructed our lawyers to promptly institute court proceedings to ensure that Mr Molefe repays the monies as directed by the high court,” the statement said.

The EPPF statement said the fund wished to assure members that it would “take all the necessary steps to ensure compliance with the North Gauteng High Court judgment”.

Approached for comment on Thursday, Molefe’s lawyer Azwifaneli Rambevha said he would not comment on the matter.

Source – News24