By Zweli Martin Dlamini

MBABANE:Prime Minister Russell Mmiso Dlamini has confirmed meeting the Chief Executive Officer(CEO) of the Public Service Pension Fund(PSPF) Masotja Vilakati and Provident Fund CEO Futhie Tembe to discuss among others, the proposed establishment of the multibillion Eswatini National Pension Fund(ENPF).

The PM was responding to this Swaziland News on Sunday after insiders within the corridors of power, accused the PSPF CEO of opposing the conversion while on the other hand, casting aspersions on the Prime Minister, accusing him of siding with Provident Fund.

But an independent investigation conducted by this publication uncovered that, about five(5) months ago, the PM held a meeting with both Vilakati and Tembe to discuss possible ways of ensuring that, the “proposed conversion of ENPF into a National Pension Fund does not collapse the Public Service Pension Fund”.

It has been disclosed that, during the said meeting that took place inside the Cabinet Offices-Mbabane, the Prime Minister suggested to the Pension Fund CEO that, the conversion of the ENPF into a Pension Fund must be implemented “as it will benefit thousands of emaSwati living in poverty.

But according to information obtained by this publication, the Prime Minister allegedly told both CEOs that, there must be professional engagements between the PSPF and the ENPF ahead of the Parliament debate of the Eswatini National Pension Fund Bill, to find possible ways of ensuring that, the conversion does not collapse but complement the PSPF.

But subsequent to the meeting, PSPF CEO Masotja Vilakati allegedly avoided to meet Provident Fund CEO Futhie Tembe and her officials instead, he wrote to Cabinet stating reasons why the ENPF must not be allowed to convert into a National Pension Fund.

In a leaked Cabinet document from Vilakati addressed to the PM and the entire Cabinet, the PSPF stated categorically that, civil servants must not be allowed to be part of the proposed multibillion Eswatini National Provident Fund.

“I can confirm meeting both the Chief Executive Officer of the Public Service Pension Fund and the CEO of the Provident Fund to discuss the conversion of the ENPF,” said the Prime Minister when responding to this publication.

But insiders within Cabinet told this Swaziland News that, during the meeting, the Prime Minister directed PSPF CEO Masotja Vilakati to prepare evidence for a comprehensive Cabinet presentation where he will explain why he “believes the conversion of the ENPF into a Pension Fund will collapse the PSPF”.

The Prime Minister allegedly told Vilakati that he cannot just “say the conversion of the ENPF into a Pension Fund will collapse PSPF without producing reports or evidence to substantiate his statements”.

The insiders said, PSPF CEO Masotja Vilakati subsequently disappeared despite documented and, consistent reminders from the Chief Executive Officer of the Provident Fund who requested follow-up meetings as per the PM’s directive.

“In fact two(2) meetings were held between the Prime Minister and the CEOs of both ENPF and PSPF and during the second meeting, the PM was making a follow-up trying to understand if the PSPF and ENPF met to discuss the matter only to find that, PSPF CEO has been avoiding meetings and failed to produce evidence supporting his earlier claims suggesting that, the establishment of the National Pension Fund, will collapse the PSPF,” said an insider.

A questionnaire was sent to the Pension Fund CEO however, he declined to comment about the matter.

Responding to this Swaziland News on Sunday, Futhie Tembe, the Provident Fund CEO confirmed the meeting with the Prime Minister, Pension Fund CEO and other officials to discuss the conversion of the ENPF into a Pension Fund.

“It’s true that, we met the PM together with the PSPF CEO, ENPF and PSPF Executives”, said the Eswatini National Provident Fund CEO.

When asked to share an independent view in this matter, lawyer Sibusiso Nhlabatsi said, it wouldn’t be the first time “eSwatini witnesses a major transformation”, he then appealed to both the PSPF and ENPF to engage before the implementation of the proposed Eswatini National Pension Fund Act.

“It wouldn’t be the first time we witness a major transformation of a Government parastatal, it’s just that this one involves billions. The transformation of the Provident Fund into a Pension Fund will eventually happen but what is important,  is the consultation to address the concerns expressed by other stakeholders that include trade unions, the PSPF and pensioners. Even the business sector that is contributing money at ENPF must be consulted to fully understand the transformation,” said the lawyer.

Members of Parliament(MPs) are highly expected to debate and pass into law the Eswatini National Pension Fund Bill that seeks to among others, transform the Provident Fund into a National Pension Fund.

The conversion will result to thousands of emaSwati who work in the textile industry, construction, security, hospitality and all industries in the country, receiving pension after reaching the retirement age.