Survés management proposes pension fund disbandment at Independent Newspapers | Fin24 – News24

Survés management proposes pension fund disbandment at Independent Newspapers | Fin24 – News24

Dr Iqbal Survé’s media group, Independent Newspapers, moved to curb the impact of salary cuts as a result of the Covid-19 pandemic on staff by reducing the amount by which staff salaries of various grade would be cut as well as proposing that pension and provident funds be disbanded.

This is according to an internal staff memo at Independent Media, which Fin24 has seen. Mainstream news media outlets, faced a difficult five months during the pandemic, as lockdown restrictions meant businesses had less money to spend on advertising. Independent Newspapers owns the Star, Cape Argus and Sunday Independent.

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