The Coalition of Lesotho Public Employees (COLEPE) has intensified calls for transparency and accountability, urging the Minister of Finance and Development Planning, Dr. Retšelisitsoe Matlanyane, to release the full original forensic report on the public pension fund to its contributors.
COLEPE insists that the comprehensive forensic report would uncover the extent of alleged corruption involving pension fund board members, management, and secretariat staff. This demand follows revelations made by the Parliamentary Public Accounts Committee (PAC), which recently tabled a report in the National Assembly exposing suspicious activities within the pension fund board.
In a statement issued yesterday, COLEPE highlighted that since Dr. Matlanyane became custodian of the pension fund in 2023, the coalition has repeatedly raised concerns about corruption within the board. Despite these warnings, they claim no substantial action has been taken to address the issues.
The coalition has also appealed to Dr. Matlanyane and the Ministry’s Principal Secretary, Nthoateng Lebona—who also serves as chair of the pension fund board—to lead the enactment of a comprehensive Pension Fund law. This legislation would harmonize existing statutes and empower fund beneficiaries to utilize their pension savings as collateral for home loans and other essential financial matters.
“Although we demanded the board to avail the full report to contributors and key stakeholders, the board misled itself by sharing only a summary report with the Public Accounts Committee,” the COLEPE statement said.
Further expressing frustration, COLEPE criticized the pension fund board for failing to hold the mandated annual general meeting (AGM) where contributors could influence decisions affecting their interests. Instead, the board convened a stakeholder meeting that merely recapped publicly available information without allowing meaningful input.
“COLEPE demands that the Pension Fund board call for the annual general meeting as outlined in its strategic plan and annual calendar, enabling members to make resolutions that will advance their interests regarding their pension monies,” the statement added.
The coalition’s demand for full disclosure and improved governance echoes growing calls among public employees and stakeholders for transparency and stronger oversight of Lesotho’s pension fund. With retirement savings and livelihoods at stake, COLEPE’s stance underscores the critical need for reforms that protect contributors’ rights and restore trust in the fund’s management.
As Lesotho’s government and pension fund board navigate these challenges, the push for accountability remains a top priority for thousands of public sector workers dependent on the fund for their financial security.
