Amend­ments are cer­tain to ben­e­fit you, says Asisa

Weekend Argus (Saturday Edition) - - GOODWINES -

The As­so­ci­a­tion for Sav­ings & In­vest­ment SA (Asisa) has wel­comed the re­lease of the sec­ond draft of amend­ments to Reg­u­la­tion 28 of the Pen­sion Funds Act.

The lat­est draft reg­u­la­tions for the ap­pro­pri­ate in­vest­ment of re­tire­ment fund sav­ings are, at first glance, a set of “nicely tied to­gether prin­ci­ples and rules”, Leon Cam­pher, the chief ex­ec­u­tive of Asisa, says.

Cam­pher says the draft amend­ments to Reg­u­la­tion 28 are the prod­uct of a very open and con­sul­ta­tive process fol­lowed by the Na­tional Trea­sury and the Fi­nan­cial Ser­vices Board.

He says Asisa will need some time to study the sec­ond draft. “Once we have worked through the sec­ond draft and have dis­cussed it with the Asisa Work­ing Group ap­pointed to deal with Reg­u­la­tion 28, we will be able to com­ment in de­tail.

“Asisa ac­tively en­gaged with both on the amend­ments to Reg­u­la­tion 28 and we are con­fi­dent that the fi­nal out­come will be to the ben­e­fit of con­sumers,” Cam­pher says.

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