# Pensioners oppose prescribed assets plan

- Link: https://dearsouthafrica.co.za/2019/08/26/pensioners-oppose-prescribed-assets-plan/
- Published: 2019-08-26T16:59:59+02:00
- Author: dearSA

![](https://cdn.dearsouthafrica.co.za/wp-content/uploads/2019/08/20191252/Screenshot-
2019-08-26T165908.305.png "Screenshot - 2019-08-26T165908.305")

South Africa’s intentions to tap state workers’ pension funds to revive a struggling
economy would be strongly opposed, the Sunday Times reports, citing a major trade
group on pensions.

The state workers’ pension funds lobby group doesn’t trust government investing 
pension funds to bail out struggling state-owned companies such as utility Eskom
Holdings, said Adamus Stemmet, spokesman for the Association of Monitoring and Advocacy
of Government Pensions. The investments wouldn’t yield positive returns, Stemmet
told the weekly.

The Public Investment Corporation, which manages about R2trn on behalf of state 
workers, is under pressure to adopt a mandate that includes economic growth rather
than focus purely on financial returns.