Treasury rejects DA proposal to allow leveraging of pension fund assets
Dion George says the amendment is needed now as, amid Covid-19, workers are resigning to access their pensions due to financial hardship
16 March 2021 - 13:06
The Treasury has rejected a DA-proposed bill that would allow pension fund members to leverage their pensions for their own benefit, pointing to the already high level of indebtedness and low level of savings in the country.
The DA private member’s bill — the Pension Funds Amendment Bill — proposed by DA MP Dion George would allow pension fund members to take out loans using their pensions as security...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.