The Labour Court rules that dismissing employees after retirement age is ‘fair’.
The Financial Sector Conduct Authority reaches agreement with an ANC pension fund to address contribution arrears, and says it will monitor progress on a monthly basis. A recent PwC survey of listed company executive directors shows that only seven of the JSE’s top 100 companies are run by women CEOs, highlighting the continued snail’s pace at which gender transformation is taking place and the Labour Court has found that the dismissal of employees who have reached and worked beyond the normal retirement age is fair.
Graduate internship to include mentoring
Saab Grintek Defence has partnered with the Sisekelo Institute of Business and Technology (Sisekelo) to fast-track the development of graduates through actual workplace experience.
The 2022 Graduate Workplace Acceleration Programme will provide six-month internships to 15 graduates, which will include being mentored by, and learning from, company employees and managers.
“We’ve noticed a considerable disconnect between graduates and their work environment expectations,” said Saab Grintek transformation manager Ellen Rakobo. “That’s why we have introduced this Workplace Acceleration Programme, to allow us to bridge that gap for young South Africans who have just left school and are now entering the workplace. Most importantly, the programme helps these graduates connect to a mentor who will help guide their career journey and find their place in the Saab organisation.”
FSCA to monitor ANC pension fund arrears
The Financial Sector Conduct Authority (FSCA) has reached an agreement with a pension fund for ANC employees, to pay it R10-million a month until its arrears are cleared.
“The African National Congress, which is a participating employer in the fund, has not met its obligations in terms of making regular retirement fund contributions into the fund,” the FSCA said.
The pension fund will also need to provide monthly updates to the FSCA, which should include information on deductions from employees’ salaries and the status of arrear contributions.
Slow progress in gender equity
PwC’s annual survey of listed company executive directors shows that only seven of the JSE’s top 100 companies are run by women CEOs – highlighting the gender imbalance in the country’s corporate sector.
The survey showed that women representation in CEO and CFO posts improved, however women still occupied just 19 percent of top finance posts in June, up from 17 percent in 2021.
Female CEOs constituted just eight percent, up from five percent a year earlier, while CFOs sat at 22 percent from 17 percent. Among all the locally listed entities, the female representation at executive level stood at 15 percent, moving up slightly from 13 percent.
Dismissing employee after retirement age ‘fair’
The Labour Court has found that the dismissal of employees who have reached and worked beyond the normal retirement age is fair.
The court ruled that employers do not waive their rights to enforce the normal retirement age by serving salary adjustment letters after their employees reach the normal age of retirement.