Government, labour and industry leaders meet re social security reform

Sanlam to host government, labour and industry leaders at exclusive workshop on SAs proposed social security reforms

Leading government, labour and retirement industry stakeholders will meet on Friday, June 29 at an exclusive, first-of-its-kind workshop to discuss the practicalities of implementing some of the proposed changes to South Africa's retirement funding framework.  Hosted by Sanlam Employee Benefits (SEB) and chaired by Jose Pinera, one of the worlds foremost experts on pension reform, the session will take place in Johannesburg from 9:00 am to 12:30 pm.

More than 35 attendees will participate in the workshop, including CEOs from some of South Africas leading companies and officials from National Treasury, South African Revenue Service and National Economic Development and Labour Council. 

"This will be the first time since the release of the Treasury Departments second discussion paper on social security reform that many of the top representatives in the stakeholder engagement process will be in the same room to discuss ways to build on the existing retirement funding system," said Johan van der Merwe, CEO of Sanlam Investments.  "Sanlam saw the urgent need for such a discussion and we expect the meeting to be a pivotal turning point in establishing a more comprehensive and inclusive retirement funding framework built on the principles of efficiency, fairness and competition."

The workshop will focus on some key policy issues, including:

* Thresholds for mandatory participation in a national social security system and how these can be arrived at to ensure sustainability;

* The implications of centralised administration of pension funds; and

* The approach to asset management and how guarantees to savers can be secured.