Just wait for retirement-fund members to receive their
benefit statements. Trustees should prepare to address the
wails of despair. Once people’s savings have been
decimated, the challenge to get them to save is all the greater
and must be met by government as well as institutions.
Again, inadequate consumer education is shown up. Read more...
Towards better governance; SA opportunities in US litigation. Read more...
The purpose of the OPFA is undermined when a fund
disputes a determination, causing members to settle on
less favourable terms rather than finance a court case.
Here’s an example. Read more...
Financial Sector Charter
Arguments for an increase in direct shareholdings of financial
institutions should be rejected out of hand. One good reason
is that the fall in share prices of the financial sector will
make it difficult enough to prevent even existing
BEE deals from falling apart.
They’re given the
all-clear by a High
Court judgment. It
should never have been necessary in the
first place, had the Adjudicator only been
given complete information.
No question is more
anxiously asked by
trustees than what
they’re to do under
conditions. To do nothing is probably
best. A selection of top consultants
share their advice to funds.
Public Investment Corporation
For the first time, external asset management has been put to open
tender. Selection will not be an easy process, and the range of
managers chosen will probably be much wider than previously.
The Government Employees Pension Fund features towards the
top. But size isn’t everything, and the GEPF is not comparable with
sovereign wealth funds.
Alexander Forbes is doing its damnedest to shake off the shoddy
image caused by past controversies. The lady newly at the helm
has strong views on how to go about it.
Two determinations by the Adjudicator draw this unwholesome
chapter closer to closure. Boards of trustees may not ratify
unlawful acts. And fund members are cautioned not to expect too
much of a windfall in their individual accounts.
New kid on the block is Brockhouse Cooper. It throws down the
gauntlet with a unique offer of free consulting in exchange for the
chance to compete on broking.
This & That
Call for reintroduction of prescribed assets; More investment for
emerging markets; DB v DC for the National Savings & Social
Security Fund; Beneficiary funds on the way; Institute of Retirement
Funds not to split; All clear at Municipal Councillors Pension Fund.
The outcry over remuneration of executives in failed and bailed-out
banks will have far-reaching ramifications. They will affect the SA
landscape as well.
You should have been prepared for what’s happening in the
markets. The specific job of your advisors is to have prepared you,
and your portfolios.
In the fallout from Fedsure, a bunch of union-related pension funds
have taken on Investec Employee Benefits. The scrap, involving
mega-billions of rand, is before the courts. If it goes the distance, it
will take years to resolve.
Back From Lunch
Why there’s such
a financial mess.
A satirical columnist
finds it difficult to be
The irony of South