without a doubt its related to your steering pump, low on fluid or on its way out. more than likely your belt is too loose should be no more than 10mm play when you push it in. try a new belt as they get very shiney and slip dead easy?
Craig, June 2011
Drive belt slipping? Can't say for sure without full details of the car in question, it might not have power steering, if it does it could be electric, electro-hydraulic, mechanical hydraulic etc.