... South Africa’s best company to build a new mobile app for your business. Amended by … The new proposal will allow retirement funds to invest 45% of the money they manage in South African infrastructure, though there will be a limit (25%) on how much can be invested with a single entity. Facing crises all round, President Cyril Ramaphosa on Thursday decreed 2020 his government's year of tending to the fundamentals required for a well-run South Africa and gave his support to a contested plan to use civil service pension funds to bail out Eskom. An alliance between South Africa’s ruling party and labour unions is pushing for the mobilization of domestic pension funds to drive economic … It is structured as a defined contribution pension fund that also provides self-insured risk benefit cover (death & disability) and monthly pensions. South Africans are not dependent on state pensions alone – consider that over 15 million people are members of over 5,000 privately administered pension funds. Funds can invest another 10% in African infrastructure outside of South Africa, which could bring the total maximum infrastructure exposure to 55%. The Pension Funds Act 24 of 1956 aims: to provide for the registration, incorporation, regulation and dissolution of pension funds and for matters incidental thereto. Commencement. The changes to the Pension Funds Act will be implemented from 1 March 2019. Pension funds, asset managers want to put more money in infrastructure, private equity | Fin24 news24.com - Londiwe Buthelezi • Alexander Forbes says smaller pension funds are enquiring about allocating more of their members' money in alternative assets such as infrastructure … Pension fund members must use a minimum of 66% of their retirement benefits to "buy" a pension upon retirement. South Africa: SABC Can't Touch Motsoeneng's Pension - Lawyer ... Majavu told News24 on Wednesday. 1 January 1958 (Government Gazette 5971 of 8 November 1957) Amendments. South Africa– Blue Sky Publications (Pty) Ltd T/A TheSouthAfrican Number: 2005/028472/07. Port Elizabeth - The Government Employees Pension Fund (GEPF), says it has not been consulted yet about the Congress of South African Trade Union's (Cosatu's) debt recovery plan to … Sentinel Retirement Fund is one of the largest self administered umbrella pension funds in South Africa.