THE R30 million golden handshake pension fund payout for former
Eskom CEO, Brian Molefe was manipulated.
The Daily Maverick’s investigative unit, Scorpio reports indicate
that Eskom's provident fund regulations were flouted.
Scorpio is in possession of leaked e-mails from Eskom showing how
officials were persuaded into doubtful approvals with regards to Molefe's
The leaked emails from Eskom indicate that Molefe started planning
the "feathering of his retirement nest" a year before his
controversial exit in 2016.
Molefe was sacked from Eskom at the beginning of June following a short
return after serving as an African National Congress MP from February.
He stepped down as Eskom CEO last year after his allegedly
improper relationship with the controversial Gupta family came to light in the
Public Protector’s State of Capture report.
Molefe agreed to return to Eskom after Public Enterprises Minister
Lynne Brown discovered he had been granted a R30m early pension payout, which
she refused to overlook.
The former CEO was only employed for 15 months at Eskom, but his
pension cost was calculated as if he had worked until the age of 63.
The emails also showed that Molefe was in fact
"retrenched", according to Eskom’s official records, to further
advance his interests.
Molefe was also apparently never entitled to be a member of the Eskom
Provident and Pension Fund.
He was appointed on a fixed-term contract of five years, and as a
result classified as a "temporary employee".
It seems Molefe’s pension fund irregularities was one of the
concerns raised by Eskom external auditors.
They reported two
irregularities to the Independent Regulatory Board of Auditors last week.