The battle between the National Union of Metalworkers of South Africa (NUMSA) and the engineering and metal pressworks and products industry has finally been resolved according to the metal workers union yesterday.

The conflict, which was over an R20 billion pension fund surplus, was finally brought to a head with NUMSA stating “Last week the board of trustees finally agreed to release the funds.”

The issue has been a thorn in NUMSA’s side for decades, with arguments raging between the metalworkers union and employer federation Steel and Engineering Industry Federation of SA since the 1950’s.

The surplus had accumulated to the Engineering Industries Pension Fund and Metal Industries Provident Fund since the 1950s.