Research Note

Regulating South Africa’s retirement funds: The case for clearer objectives

Rob Rusconi
South African Journal of Economic and Management Sciences | Vol 24, No 1 | a3943 | DOI: https://doi.org/10.4102/sajems.v24i1.3943 | © 2021 Rob Rusconi | This work is licensed under CC Attribution 4.0
Submitted: 04 December 2020 | Published: 30 November 2021

About the author(s)

Rob Rusconi, Department of Actuarial Science, Faculty of Natural and Agricultural Sciences, University of Pretoria, Pretoria, South Africa


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Abstract

The rationale for the regulation of participants in financial markets, like retirement funds, is sound. It would be strengthened, however, by a clear statement of the objectives of such regulation. In this article the position is taken that the objectives underpinning the regulation of South African privately-managed retirement funds should be enhanced. It presents this argument with reference to international principles concerning systems of old-age provision, and to the examples of regulations in other jurisdictions. It recommends a set of practical regulatory objectives in the pursuit of efficiency, sustainability, coverage, adequacy and security of provision for old age.


Keywords

retirement funds; financial markets; regulatory objectives; social protection; government policy

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