BUSINESS NEWS - Finance Minister Enoch Godongwana could opt to suspend the government’s contribution to the Government Employees Pension Fund (GEPF) for a year, as part of measures to offset the government’s R60b budget shortfall.
According to government sources, suspending the employer’s contribution to the GEPF was one of the options recommended to Godongwana during Monday’s special Cabinet meeting.
Temporarily suspending GEPF contributions would save government approximately R60b this year, which is similar to the revenue a 2% VAT increase would generate.
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