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The ANC government is still after private pension monies to fund government investment projects, and the upcoming ANC conference will see more policies tabled to extract these monies from the people, reports Business Day.
THE pension and asset management industry in SA has criticised a controversial government plan, due to be discussed at the African National Congress (ANC) policy conference starting tomorrow, to push private pension and life assurance money into state enterprises and development finance instruments.
As the IDC’s investment of state pension money in Sanral bonds recently showed, this will be disastrous over the long-run.
More reason to cash in your retirement savings captured in the system at present before they get locked in for good.