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Cosatu has slammed remarks by ANC spokesperson Pule Mabe that pension funds could be used to provide financial support to small businesses and start-ups.
A £30bn (R570bn) UK pension fund has threatened to fire managers that fail to curb their exposure to climate change and position for a low-carbon economy.
The last time South Africa had prescribed assets, the apartheid regime forced retirement funds to invest half of all savings in government bonds.
Pension funds in South Africa have a legal obligation to account for the financial effects of climate change on their investments, according to two groups lobbying money managers to pay closer attention to the issue.
The ANC elections manifesto itself says the party will investigate the introduction of prescribed assets on financial institutions’ funds.
The Public Servants Association is calling for the appointment of a new Public Investment Corporation board, saying it should include labour representatives.
A retired school principal who realised that her pension will not be enough to support her, has apparently caused a shutdown at a school.
It will be difficult to capture the Public Investment Corporation as it has mandates with its clients that prescribe how their funds are managed, says its CEO Dan Matjila.
The board of the Government Employees Pension Fund needs to be vigilant as there appears to be a temptation to view it as a source of funding for the fiscus, the fund’s chairperson Renosi Mokate has told Parliament.
The Public Investment Corporation, which manages government employees' pension money, says it will still consider investing in ailing national carrier SAA.
The union says it it is not in the interests of workers to fund bankrupt entities.
A retired Pietermaritzburg nurse who spent over 30 years of her life caring for her community says she is being short-changed out of her pension gratuity, 36 years after her retirement.
The ANC should work towards reforms that will avoid seeing the introduction of asset prescription or seeking money from the International Monetary Fund, urged the DA.
Kirk Swart answers some burning questions on prescribed investments for pension funds.
An investigation into the conduct of Public Investment Corporation head Daniel Matjila has started with letters sent to staff seeking information, Business Day newspaper reported.
The Public Servants Association has filed a court application in a bid to force the release of information relating to the PIC board and the R5bn bridging loan granted to Eskom in February.
Liberty Group, the financial services group responsible for most of a controversial mass cancellation of “orphan” pension and provident funds, is asking for 90 of them to be reinstated.
Yunus Carrim, the chairperson of Parliament's oversight committee on finance, also questioned why Finance Minister Malusi Gigaba earlier this month ordered an audit of the Public Investment Corporation.
Finance Minister Malusi Gigaba has called on retirement funds to obey the strict rules laid down by the pension funds regulator.
The Financial Services Board has clarified its position in terms of oversight of the Transnet Employees’ Pension Fund.
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