Latest news with #R2.69
IOL News
an hour ago
- Politics
- IOL News
Taxpayers to fund Mchunu's R2. 69 million salary during suspension
Taxpayers will continue to fund Police Minister Senzo Mchunu's full salary of R2.69 million while he is suspended amid a presidential inquiry into serious corruption allegations Taxpayers will face an increased financial burden as Police Minister Senzo Mchunu, currently on special leave, is set to continue receiving his full annual salary of R2.69 million. This decision comes in light of a presidential commission of inquiry announced by President Cyril Ramaphosa, which could take between three to six months to conclude. Despite being off duty, Mchunu will continue to earn his full annual salary of R2.69 million, which translates to approximately R224 166.67 per month. During the inquiry period, Professor Firoz Cachalia from Wits University has been appointed to act as the interim Minister of Police. While Cachalia's exact remuneration package has not been officially confirmed, it is expected that he will receive a ministerial-level salary during his acting term. If Cachalia serves as acting minister, he is expected to earn a monthly salary equivalent to that of a full Cabinet minister, approximately R224 166.67. This means he would receive around R672 500 over three months, and up to R1.35 million if the inquiry stretches to six months. This effectively means the Ministry of Police will cost the state nearly R1.35 million in salaries over three months, and up to R2.69 million if the inquiry extends to six months. A minister's total remuneration includes a basic salary component that is equal to 60% of the total package, which constitutes the pensionable salary. Each public servant is paid R120 000 per annum, including in their basic salary. The Presidency said that this amount is subject to the Income Tax Act. An employer's pension benefit contribution is equal to 22.5% of pensionable salary.
IOL News
a day ago
- Politics
- IOL News
This is how much it's going to cost taxpayers
Police Minister Senzo Mchunu has been placed on special leave but will continue earning his full salary. South African taxpayers are set to bear a heavier financial burden following the announcement that Police Minister Senzo Mchunu, who has been placed on special leave, will continue to earn his full annual salary of R2.69 million. This decision comes in light of a presidential commission of inquiry announced by President Cyril Ramaphosa, which could take between three to six months to conclude. Despite being off duty, Mchunu will continue to earn his full annual salary of R2.69 million, which translates to approximately R224,166.67 per month. During the inquiry period, Professor Firoz Cachalia from Wits University has been appointed to act as the interim Minister of Police. While Cachalia's exact remuneration package has not been officially confirmed, it is expected that he will receive a ministerial-level salary during his acting term. If Cachalia serves as acting minister, he is expected to earn a monthly salary equivalent to that of a full Cabinet minister, approximately R224,166.67. This means he would receive around R672,500 over three months, and up to R1.35 million if the inquiry stretches to six months. This effectively means the Ministry of Police will cost the state nearly R1.35 million in salaries over three months, and up to R2.69 million if the inquiry extends to six months. It is currently not known how long Mchunu will be placed on leave, but he will be receiving his ministerial salary throughout this period. The Presidency last year gazetted a 2.5% salary increase for ministers, deputy ministers, members of parliament, and other public representatives, retroactive to 1 April 2024. Ministers in South Africa will now earn R2.69 million annually, up from their previous salary of R2.64 million, according to a report by IOL. A minister's total remuneration includes a basic salary component that is equal to 60% of the total package, which constitutes the pensionable salary. Each public servant is paid R120,000 per annum, including in their basic salary. The Presidency said that this amount is subject to the Income Tax Act. An employer's pension benefit contribution is equal to 22.5% of pensionable salary.
IOL News
a day ago
- Politics
- IOL News
Mchunu on Leave, Acting Minister Appointed: Here's how much it will cost taxpayers
Police Minister Senzo Mchunu has been placed on special leave but will continue earning his full salary. South African taxpayers are set to bear a heavier financial burden following the announcement that Police Minister Senzo Mchunu, who has been placed on special leave, will continue to earn his full annual salary of R2.69 million. This decision comes in light of a presidential commission of inquiry announced by President Cyril Ramaphosa, which could take between three to six months to conclude. Despite being off duty, Mchunu will continue to earn his full annual salary of R2.69 million, which translates to approximately R224,166.67 per month. During the inquiry period, Professor Firoz Cachalia from Wits University has been appointed to act as the interim Minister of Police. While Cachalia's exact remuneration package has not been officially confirmed, it is expected that he will receive a ministerial-level salary during his acting term. If Cachalia serves as acting minister, he is expected to earn a monthly salary equivalent to that of a full Cabinet minister, approximately R224,166.67. This means he would receive around R672,500 over three months, and up to R1.35 million if the inquiry stretches to six months. This effectively means the Ministry of Police will cost the state nearly R1.35 million in salaries over three months, and up to R2.69 million if the inquiry extends to six months. It is currently not known how long Mchunu will be placed on leave, but he will be receiving his ministerial salary throughout this period. The Presidency last year gazetted a 2.5% salary increase for ministers, deputy ministers, members of parliament, and other public representatives, retroactive to 1 April 2024. Ministers in South Africa will now earn R2.69 million annually, up from their previous salary of R2.64 million, according to a report by IOL. A minister's total remuneration includes a basic salary component that is equal to 60% of the total package, which constitutes the pensionable salary. Each public servant is paid R120,000 per annum, including in their basic salary. The Presidency said that this amount is subject to the Income Tax Act. An employer's pension benefit contribution is equal to 22.5% of pensionable salary.
