Unions react to closure of 91 branches and potential loss of 1,200 jobs at Standard Bank March 18, 2019 Commencement date for no-penalty early retirement scheme for GEPF members set for 1 April General Group Five budgets for R233m in retrenchment pay as it enters business rescuePosted by admin Fin24 reports that Group Five, which is conducting retrenchment proceedings, has estimated that it would need to pay out R233m in severance pay as it enters business rescue. Source: Latest News