There are hundreds if not thousands of public servants who are facing disciplinary action - they did not benefit directly, writes Melanie Verwoerd.
Morning clouds. Mild.
The ANC stated in its election manifesto that it would expressly stated in its election investigate prescribed assets to 'unlock resources for investments in social and economic development'.
Although there is a need to step up investment into South Africa’s poor infrastructure, fear that this will be achieved through the imposition of prescribed assets may be misplaced, writes finweek contributor Mariam Isa.
South Africa's intentions to tap state workers' pension funds to revive a struggling economy would be strongly opposed, the Sunday Times reports, citing a major trade group on pensions.
While opposition party the DA has argued unions should oppose prescribed assets in order to protect their members' interests, trade union federation Cosatu says it "in principle" supports investment being required to invest part their funds in government bonds.
President Cyril Ramaphosa has not said outright whether he supports the prescription of assets - but has said government will pursue policies in the interests of South Africans, and pension fund holders.
The total value of pension funds in SA is over R4 trillion and a new government policy around prescribed assets could unlock this pot of gold for the government to use for investments.
Kirk Swart answers some burning questions on prescribed investments for pension funds.
In its 2019 election manifesto the ANC said it would investigate the prescribed assets.
Members of the National Assembly on Tuesday debated government's proposal to investigate prescribed assets as an option to drive development in the country.
President Cyril Ramaphosa has called for a "broad and wholesome" discussion around prescribed assets, which could oblige retirement funds to invest in state-owned enterprises. Here's what you need to know.
Less than a week after the ANC’s economic policy head Enoch Godongwana said the ANC is investigating the use of prescribed assets for pension funds, Ramaphosa told Parliament SA needs a national conversation about the policy.
People should avoid making decisions based on individual policy elements in South Africa, resulting in rash changes to their investment portfolios, according to Herman Van Papendorp, head of investment research and asset allocation at Momentum Investments.
The ANC, in its 2019 Election Manifesto, stated that the party would "investigate the introduction of prescribed assets on financial institutions’ funds to unlock resources for investments in social and economic development".
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