nottheaverageactuary

Actuarial news and views from Cape Town and beyond

New draft Retirement Regulations out!

2 Comments

Hot off the press – the National Treasury has just published a new set of draft regulations for retirement funds. The announcement is here, and the new regs are here.

Basically, the NT is asking all funds to put in place low cost, simple defaults for investment choices, buying annuities at retirement, and for preservation.

What does that mean for funds? What problems are these regulations addressing, do you think?

 

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2 thoughts on “New draft Retirement Regulations out!

  1. I think the law is trying to address the recent problem of excessive charges that pension fund administrators charge. Since the more the charges the less people will have when they retire. Low income eaners without enough pension tend to rely on the state,which costs the state more.

  2. Yup, excessive charges and also inappropriate products AND inappropriate behaviour – like non-preservation!

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