The National Assembly on Thursday approved two finance bills aimed at allowing late applications for special pensions, and to change the constitution of the board of the Financial and Fiscal Commission (FFC).
Speaking in the National Assembly, Deputy Finance Minister Mandisi Mpahlwa said the main objective of the Special Pensions Amendment Bill was to condone ”late” applications.
”This will open an opportunity for all persons who meet the qualification criteria as prescribed by the Act, but were left out because of the cut-off date for submitting applications.”
The measure also makes a number of consequential amendments, among others, to extend the life of the special pensions board to more than four years, thus allowing it to complete all its work, he said.
The Act provides for payments to veterans of the liberation struggle who lost the opportunity to earn a pension before the end of apartheid.
Mpahlwa said the Financial and Fiscal Commission Amendment Bill was largely technical in nature and related to a reduction in the number of commissioners from 22 to nine.
The new reduced commission — which is mandated to advise Parliament and government on the division of revenue ‒ would consist of a chairperson, deputy chairperson, three provincial-nominated members, two from organised local government and two other members.
The bill also aims to extend the functions of the FFC to provide advice when functions are shifted between the different spheres of government, he said.
The two measures will now be referred to the National Council of Provinces for concurrence. – Sapa