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Investment experts oppose government-funded retirement fund

VAAL TRIANGLE - Investment experts have opposed a government proposal that could mean employees would pay 12 percent of their salaries into a government-funded retirement fund. The green paper on the reforms of retirement funds was published in the Government Gazette this week. The Department of Social Development wants the government to manage a fund that will provide for retirement, unemployment and disability. Analyst Daniel Silke says the big problem is that the state's reputation is weak in terms of the delivery and management of funds. He says for this reason it is wrong to make the contribution to such a fund compulsory. PHOTO: (Supplied)

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