Regulating South Africa’s retirement funds : the case for clearer objectives
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Date
Authors
Rusconi, Rob
Journal Title
Journal ISSN
Volume Title
Publisher
Juta Law
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.
Description
The research reported in this article is intended to contribute
to completion of a PhD degree at the University of Pretoria.
Some of the work was carried out as part of an MSc thesis completed in 2019 at the University of Pretoria. I am grateful
for the guidance provided by supervisors Prof Conrad
Beyers and Prof Corlia van Heerden. I acknowledge as well
comments received from delegates to the 2020 Convention
of the Actuarial Society of South Africa, to which this paper
was presented, and from pre-presentation reviewer, Costa
Economou.
Keywords
Retirement funds, Financial markets, Regulatory objectives, Social protection, Government policy
Sustainable Development Goals
Citation
Rusconi, R., 2021, ‘Regulating
South Africa’s retirement
funds: The case for clearer
objectives’, South African
Journal of Economic and
Management Sciences
24(1), a3943. https://DOI.org/10.4102/sajems.v24i1.3943.