You are invited to provide comment, input or objections to Draft Amendments to Regulation 28 of the Pension Funds Act – intended to encourage investment in infrastructure projects.
Regulation 28 sets the maximum percentage of a fund’s assets that can be invested in different asset classes. The proposed amendment adds the a new class; investment in domestic infrastructure projects.
10652 participants (closed 31 March 2021)
Have your say – shape the outcome.
The amendments to Regulation 28 provide government’s response to calls for retirement fund investment in infrastructure to bridge the infrastructure gap. The decision to invest in any asset class, including infrastructure, remains that of the board of trustees of retirement funds. The draft notice on amendments to Regulation 28:
- Provides specific reference to investment in infrastructure through various asset classes already permitted through the Regulation and introduces an aggregate limit for infrastructure;
- Inserts two new columns in Table 1 of Regulation 28 with limits applicable to infrastructure investments. Investment in infrastructure will be recognised within the various underlying asset categories specified in Regulation 28. This will also enable better and more accurate data for this form of investment;
- Proposes that the overall investment in infrastructure across all asset categories, may not exceed 45% in respect of domestic exposure and an additional limit of 10% in respect of the rest of Africa; and
- Limit aggregate exposure per issuer or entity to 25% of the total assets of the fund.
IN THE MEDIA
- Businesstech – The projects your retirement money could help fund in South Africa
- Moneyweb – Changes to Regulation 28 expansive rather than restrictive
- Moneyweb [listen] – How the proposed amendments to Reg 28 will affect your retirement
- Moneyweb – SA proposes Regulation 28 changes
ENABLING YOU TO SHAPE GOVERNMENT POLICY
Dear South Africa is a legally recognised and constitutionally protected non-profit platform which enables the public to co-shape all government policies, amendments and proposals. We’ve run many successful campaigns and have amassed a considerably large active participant network of over 750,000 individuals across the country and beyond.
We do not run petitions. We run legally recognised public participation processes which allow citizens to co-form policy at all levels of governance. Whereas petitions, even if they contain thousands of signatures, are considered as a single submission by government, our process ensures that each comment made through dearsouthafrica.co.za is recognised and counted as an individual submission by government.
Furthermore, we keep an accurate record of all participation and produce a publicly available report at the end of each project. This report forms the foundation of a sound legal case should the necessity to challenge the decision arise.
Participation costs you NOTHING, and is so easy and quick to do through the platform that you really have no excuse not to help shape policy BEFORE it becomes law. Legally challenging implemented law is costly and rarely successful. Prevention is better than cure.
Participation in decision-making processes means a possibility for citizens, civil society organisations and other interested parties to influence the development of policies and laws which affect them. We’ve made it easy for you as a responsible citizen of South Africa, to influence government decisions before they are made.