Retrenched Etale workers to get pension payouts
29 Aug 2013 10:50
WALVIS BAY, 29 AUG (NAMPA) A group of 264 workers retrenched by the Etale Fishing Company will start receiving their pension payouts as from the first week of September this year.
This is according to a Metropolitan Namibia Odunda Pension Fund statement availed to Nampa on Wednesday by the Etale Fishing Companys Human Resources Manager, Gerry Munyama.
The statement indicated that the fishing companys pension benefits will be authorised on 31 August 2013 to be paid out as a bulk payment.
However, the money will only be reflected on the former employees bank accounts some 48 to 72 working hours after its release.
Metropolitan also requested tax directives for benefits above N.dollars 50 000, and they are still waiting on those directives from the Ministry of Finance.
This waiting period could also cause a delay in the release of the payments for those members whose benefits are above the N.dollars 50 000-mark, the statement noted.
During the past few weeks, the retrenched workers have become increasingly nervous about the payment of their retrenchment packages.
Some of them have even been alleging that they might never receive their retrenchment packages because of the companys current debt crisis.
Munyama, however, explained that the Etale Fishing Company is not responsible for paying out of the retrenchment packages.
The company only acts as an agent between the employees and Metropolitan. I am only informing the employees about the directive which I received from the pension fund, he stated.