The Congress of South African Trade Unions (Cosatu) has raised serious concerns about corruption, mismanagement, and political interference at the Public Investment Corporation (PIC), urging greater transparency and accountability to protect workers' pensions.The PIC, a key state institution, has faced allegations of questionable investments and state capture during the past decade.

Despite recent progress in dismantling corruption networks under President Cyril Ramaphosa's administration, Cosatu warns that the PIC remains vulnerable to these issues.The union highlights that workers and pensioners have suffered greatly from state capture, with many losing jobs, pensions, and other benefits.While acknowledging the PIC's growth in assets from R1.8 trillion to over R3.6 trillion, Cosatu stresses the importance of ensuring these funds are not misused.The PIC's mandate includes protecting public servants' retirement benefits and driving inclusive economic growth.Cosatu calls for strict adherence to the updated PIC Act, which mandates transparency in investments and public disclosure of the full portfolio.The union demands that the new PIC Board address ongoing investigations, including the Acapulco deal, and ensure whistleblower protections.They also urge government support to prevent political interference and maintain the PIC's focus on national economic objectives.