Attention all Transnet pensioners

REGARDING the costs of our class action and the implications of opting out or not, when we (Transnet Pensioners Action Group) embarked on our journey to court, one of the items at the top of our list of concerns was how we were going to pay the legal fees and other costs of bringing a case to court, keeping it going and seeing it through to the end?

Estimates were that the money required would run into millions.

Miraculously, the legal team committed to providing their services on a contingency basis, meaning fees would only be payable by the claimants in the event of a successful outcome.

These fees will naturally be recovered from the proceeds of the final settlement which will have no negative effect on pensioners (who do not choose to opt out) as they will be benefiting by receiving improved monthly pensions expected to grow with inflation.

In addition, because our class action has an ‘opt out’ option, notices have had to be placed in the media requesting pensioners who do not wish to participate to notify our attorneys. (Those who opt out will definitely not benefit from the outcome of a successful case).

Some pensioners are now asking: ‘What will I have to pay if pensioners lose the case and should I opt out to avoid the risk?’

Simply put, in South Africa class actions are relatively new and there is no judgment yet as to how costs of litigation may be shared by members of the class. Regarding the amount, we are not prepared to speculate but, in the event of a lost case, costs would translate to a few hundred rand per pensioner.

We are on the brink of success, our class action has been certified, Transnet and the Pension’s Fund appeals have been turned down and they have now applied to the Chief Justice for special leave to appeal, but it is just a matter of time before our case is heard and settled.

TRANSNET PENSIONERS ACTION GROUP