DETAWU is extremely disappointed that the Financial Sector Conduct Authority (FSCA) has entered into an out of Court settlement with the Fund Trustees despite the magnitude of the corruption allegations contained in the founding affidavit papers filled by FSCA against the Fund Trustees.

We are equal concerned that the perpetual bad publicity continues to injure the little remaining reputation of the Private Security Provident Fund.

We demand that FSCA should ensure that the allegations levelled against the Fund Trustees are followed and properly tested.

We think that the right thing FSCA ought to have done was to allow Court processes to unfold and uncover the truth, separate facts from friction. This undoubtedly would have helped a great deal to put breaks on the daylight ransacking of the fund.

We strongly believe that it is only the Court of Law which can play an impartial & a credible role to demystify the negative narrative which has brought a great sense of anxiety and pain amongst workers in the Security Industry.

We also call upon both the Minister of Labour and the collective leadership of the Industry excluding the implicated ones to stand up and stop this scandalous developments in the fund by ensuring that all the likely thieves are put behind bars.

We strongly believe that if this is not corrected it will have a direct impact on the level of compliance as some employers may be reluctant to put worker’s money in a dark endless pit.

To us this is nothing but just another episode which reinforces DETAWU long held view that the Fund continues to be used by some Trustees and some service providers as their personal milk cow and a vehicle for self-enrichment.

Judging from the FSCA papers submitted in Court the Trustees have completely run down all elements of good governance and accountability in the Fund both as individuals and as a collective.

We therefore demand that FSCA should make it a point that all those allegations are properly investigated and that anyone found to have trespassed the Law in anyway should be brought before the Courts and the almighty hand of the Law should be allowed to take its course.

The last thing a Security Office does not want to hear is uncertainty and looting on his/her only servings in the Fund since Security Officers are paid way below a leaving wage and therefore cannot afford any other forms of servings besides the Fund..

Workers should trust and be confident with their Fund leadership and administration, as things stand that has completely evaporated and FSCA has an inherent responsibility to restore workers confidence and hope.

Statement issued by the Union General secretary Vusi Ntshangase