Eskom pensioners just got Covid-19 bonuses worth R104 million
Some 33,000 members of the Eskom Pension and Provident Fund have
received special coronavirus payouts in the form of a once-off bonus
worth a little over R104 million in total.
It hopes the extra
money will “help alleviate the financial distress caused by the Covid-19
pandemic and the economic impact of the national lockdown,” said the
fund in a statement.
Households received between R3,500 and R5,425 each, under a formula that provides bigger payouts for lower-income households.
The EPPF
is a defined benefit fund, which evaluates its investment performance
every year to determine the level of increase in monthly payouts – and
the size of a regular December bonus to all members. The Covid-19 payout
was set to 50% of the bonuses paid out in December 2019.
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