Dear Standing Committee on Finance,

I wish to bring to the Committee’s attention the serious concerns surrounding the PIC’s management of GEPF funds and the recent R3.6 billion losses in unlisted assets. See: https://dailyinvestor.com/investing/111171/billions-lost-from-government-pension-fund/

Given your committee’s oversight role over the PIC, I request that the Committee:
1. Examine the PIC’s governance failures and investment decision-making processes;
2. Call for public briefings and accountability from PIC executives;
3. Ensure that proper consequence management follows;
4. Develop recommendations to strengthen the PIC’s investment controls.

Effective oversight will ensure the long-term protection of public service pensions.