ANC MPs reject DA’s pension reform bill
The bill would have allowed the financially distressed access to a portion of their pension funds
Parliament’s finance committee has rejected as undesirable a proposed DA bill that would have allowed pension fund members to take out loans against a guarantee of a portion of their pension fund assets.
The rejection comes as the Treasury moves towards the publication of a paper on pension fund reform, which is expected to be released next week for public comment. This is in line with the undertaking given by finance minister Enoch Godongwana in his medium-term budget policy statement in November. The minister said a discussion document on the details of the reform proposal would be published shortly to obtain inputs before further announcements are made in the 2022 budget...
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.