The government must not be allowed to abuse pension funds, and contributors must have a say in how their funds are used
said during his briefing of the SA National Editors’ Forum in Cape Town that South Africans “weren’t that good” at saving money and that pension funds would therefore have to be the main sources of money to saveIt is true that the country does not have successful saving mechanisms in place. All the government has succeeded in doing is borrowing money and gaining more debt, which has proven to be a major challenge for this country’s economy.
If the government wants to save or invest SA pension funds, the state must not be allowed to take without giving shares or proceedings back to pension holders. We must decide together with pension fund holders and the state on a certain percentage to be compensated. The government must not be the sole beneficiary — the owner of the pension fund must be given some precedence on the investment as it is their rightful money. Such an indication from the president could work if some of the underlying issues were addressed.Send us an e-mail with your comments. Letters of more than 300 words will be edited for length. Send your letter by e-mail to
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