Issue: April/June 2010
Editorials

First Word

What’s in a name? Quite a lot, actually. The trouble with “pensions” is simply that the term is downright boring, belying the empowerment that they’re really about. Read more...


Announcement

The ASISA Academy and Today’s Trustee enter a partnership intended to assist the education and awareness of retirement-fund trustees on issues that vitally concern them. Read more...


Trade Unions 1

Trustees of the Ppwawu fund have stood bravely against interference from their union. It hasn’t been easy, and it still isn’t. Read more...


Trade Unions 2

And not only at Ppwawu. There have been ructions at the SA Municipal Workers Union too, but now its fund trustees have won a High Court ruling which reasserts their independence. Read more...


Cosatu

Yet the largest union federation is taking none of it lying down. Resolutions adopted at its national congress affirm its defiant stance on this and other issues affecting retirement funds. Read more...


This & That

Old Mutual streamlines while largest shareholder wants it to become a “pure” SA company; Final word from the Supreme Court of Appeal on the market-value adjuster; NBC dispute with trustees of the Private Sector Security Provident Fund goes to the FSB Appeal Board; International Finance Corporation takes a look at how SA asset managers are integrating environmental, social and governance factors on investment decisions. Read more...


Cover Story

Regulation 28, the guidelines for prudential investment by retirement funds, is up for review. National Treasury readies itself for a huge debate. Because of complexity, and controversy sure to be aired, the process to finalisation can take some time. Read more...


ESG Issues

Are trustees required first to maximise their funds’ financial returns and only afterwards consider broader matters such as the social responsibility of companies where they invest? No, says legal opinion endorsed by the UN Environment Programme Finance Initiative. Read more...


Curatorships

Some startling numbers emerge on what’s being paid. Minister Gordhan wants certain practices reviewed, and high time too. Another killing might be made on Alexander Forbes’ proposed ‘Lifecare’ settlement. Read more...



Shareholder Rights

That old argument, about whether black members of pension funds should be recognised as company owners for BEE purposes, again rears its head.
There’s a peculiar disconnect between policy and practice. Read more...



Preservation

An obvious way for trustees to add value is not by looking to ever-more complex structures. Ultimate yield, the litmus test, is best assured by encouraging members to hang in. Read more...



Gravy

The actuaries’ conference and Woody Allen. Read more...


Edutorials