The ANC has pledged to introduce so-called prescribed assets, and Minister of Trade, Industry, and Competition Parks Tau last month advocated changes to the Pension Funds Act.
However, Deputy Finance Minister David Masondo said that government will respect pension funds' investment mandates.
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South Africa’s financial regulator said it’s opposed to any proposals that would compel pension funds to plow money into government-approved investments, as it could compromise market returns.
The ANC pledged to introduce so-called prescribed assets after May 29 elections to ensure the financial sector makes adequate funds available for the nation’s industrialisation and economic development.
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