Post by cjm on Mar 5, 2020 18:17:50 GMT
It would be interesting to know what they consider as a pension fund. If I have a retirement annuity which has matured, 2/3 has to be invested in a fund generating an annuity . The question is whether that fund is considered a pension fund and is subject to ambush in so far as it invests money having a retirement origin.
Or, is the situation, that these funds are only subject to ambush on unmatured investments?
Or, is the situation that they are going to force ALL funds to invest in Eskom (inter alia). This was sort of the situation under the regime except that there was a whole range of assets available for compulsory investment. Even life insurers were required to invest in certain prescribed assets.
The irony is that the reason why the government then had to resort to those measures was as a result of the "struggle" waged by the ANC against the country. Now, once again, we are in that boat as a result of the ANC. They caused the crises now and then and it serves little purpose pointing fingers at the regime to garner assistance for the pending ambush for in both cases they were the causal factor.
There also is the question whether it is possible to refuse to contribute to a pension fund. In many cases one is contractually (or by virtue of law) required to contribute. Can this position be challenged by law?