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No pension for former August 26 employees

No pension for former August 26 employees

Zorena Jantze

 

A GROUP of former August 26 textiles garment factory employees that were retrenched earlier this year, shared their grievances against the Old Mutual life insurance company as it has failed to settle pension payouts to the works.

 

A group of 70 aggrieved former workers marched from the Auspannplatz circle to the head office of Old Mutual to hand over a petition to Patricia Olivier, head of the corporate segment of the insurance company.

 

The workers in the petition wrote: “We demand answers from Old Mutual and the heads of August 26 holdings. It usually takes Old Mutual 3 months to process and pay employees pension money. What makes this case special, that it’s taking you 9 months to pay out our money?”

 

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The workers further stated that Old Mutual has been in the process to pay out funds to retrenched workers since March 2020 and that the payouts are long overdue.

 

They further demanded that Old Mutual must issue new statements with updated interest rates from March 2020 which was the day of exit to the date of payment.

 

“We want to find out the real reasons why old mutual has not started the process of payouts and is requesting another 6 months to pay out money to people. The textile and garment factory has suffered enough shame and embarrassment and now again we must take to the streets for the same thing, money!” the workers lamented.

 

Earlier this year, the August 26 garments factory announced that it would be retrenching workers after it came to light that a total of N$25,7 million was stolen from the company coffers and that the company was not making a profit which led to liquidity issues and the eventual shutdown of the factory.

 

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