Godongwana's big offshore boo-boo
Finance Minister Enoch Godongwana has admitted that National Treasury made a mistake when it allowed pension funds and other asset managers to increase their offshore holdings
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Finance Minister Enoch Godongwana has admitted that National Treasury made a mistake when it allowed pension funds and other asset managers to increase their offshore holdings
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'Workers will retire with at least double the income replacement ratios compared with now and will have access to 30% of their retirement income to help in times of economic shocks,' says the author.
The SACP/ANC alliance wants prescribed asset rules and/or the NSSF to give it control over the enormous pot of pensions and other savings.