South Africa's retirement fund legislation is to experience reforms that will seek to expand the availability of retirement savings vehicles and provide greater protection to fund members.
Some of the key objectives of the reforms include raising the standard of retirement fund governance, encouraging and enabling individuals to make adequate provision for their retirement, as well as empowering the regulator to effectively regulate the retirement funds under its supervision.
In 2004, the National Treasury released a discussion paper: Retirement Fund Reform Discussion Paper, which is available for public comment until 31 March 2005 on www.treasury.gov.za. In order to make the process more interactive, National Treasury has also arranged roadshows across the country with relevant stakeholders.