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South Africa is isolated from the rest of the world in the geographic sense - we live on the far tip of Africa, in the southern hemisphere, as far as it's possible to get from the powerhouse economies of America Europe and China.
Amendments to Regulation 28 of the Pension Funds Act (“PFA”) have gone through a lengthy process since February 2021. These amendments were gazetted on 1 July 2022 and National Treasury (“NT”) published another media statement on the matter on 5 July 2022.
“Now is the winter of our discontent” opens Shakespeare’s play about the rise and fall of the murderous and deceitful Richard III. South Africa is equally experiencing a season of unhappiness.
The government took another significant step in paving the way for retirement funds to invest meaningfully in infrastructure investments when it gazetted Regulation 28 last week.
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