South Africa’s biggest labour federation said private pensions must be used alongside those of government workers as part of a plan to rescue the state power company from crippling debt and spur economic growth. The Congress of South African Trade Unions (Cosatu) advocated the use of so-called prescribed assets, alongside funds held on behalf of state workers by the Public Investment Corporation (PIC), in a copy of a submission to parliament seen by Bloomberg and confirmed by Cosatu.
