RENEWED FEARS AROUND PENSION FUND PRESCRIBED ASSETS ARE PREMATURE
Recent renewed speculation in the media regarding Prescribed Assets elicited a concerned response from retirement funds and their members. It’s important to remember that some form of prescription already exists in the form of Regulation 28 of the Pension Funds Act, which prescribes asset class limits for retirement fund investments. Your Funds already comply with current regulations and therefore members need not panic.
Any changes to the current pension investment regulations will require industry consultation and parliamentary approval. The Funds’ investment managers are participating in current discussions regarding infrastructure investment sorely needed to restart the economy and will monitor developments closely. The Funds will provide any updates in future newsletters.
The attached article on Moneyweb places the matter in proper perspective – please click the link below to read this article written by Adriaan Kruger.