THE OFF­SHORE AL­LOWANCE

Finweek English Edition - - COVER -

In terms of reg­u­la­tion 28 of the Pen­sion Funds Act, re­tire­ment funds, in­clud­ing re­tire­ment an­nu­ities, pen­sion and prov­i­dent funds, have limited scope in where they can invest.

The reg­u­la­tion de­ter­mines that unit trusts, where re­tire­ment funds are in­vested, may i nvest as much as 25% of t heir un­der­ly­ing funds in off­shore as­sets and an ad­di­tional 5% in African in­stru­ments.

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