TAU SA expressed concern about the statements made on public forums by the ANC government where advocacy is being made to use SA’s pension capital for investment in so-called fixed assets. The size of the exit funds can make a huge impact on the national economy; according to the 2017 annual report of the pension fund registrar, the total assets of pension funds currently amount to R4.2 billion, where public sector pension funds (GEPF) make up 40% of the total amount.
According to TAU SA, the only two remaining assets on which the regime can further tarnish are land and pensions. Everyone is aware of the ANC’s plan to expropriate land without compensation. The writing is now also on the wall for South Africa’s pension money. Kobus Oberholster, Head of TAU SA’s Financial Wellness Desk says they can’t sit still and allow our people’s hard-earned pension, built up over decades, to be dumped into bottomless pits of Eskom, SAA, PRAS
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