Pretoria - National Treasury has extended the comment period of the draft default pension fund strategies.
In July, Treasury released the proposals saying that they form part of the broader retirement and savings reforms initiated in 2011.
The new rules are set to deal with how assets in retirement funds should be invested‚ how members should preserve their benefits when they change jobs and what monthly annuities should be paid to members from retirement funds when they retire.
In a statement on Thursday, National Treasury said it had received requests to extend the comment period on the draft regulations of which the due date for comment was the end of September.
“National Treasury has received several requests to extend the comment period on the draft default regulations, released on 22 July 2015 in terms of section 36(1)(c) of the Pension Funds Act No. 24 of 1956.
“National Treasury has decided to extend the closure of the comment period by one month, up to 31 October 2015,” it said.
Treasury also thanked stakeholders who have already sent in their comments. National Treasury will also accept supplementary comments from them should they deem it necessary to do so within the extended period.
The draft default regulations are available on the National Treasury website (www.treasury.gov.za).
Comments may be sent to Alvinah Thela, Director: Retirement Funds, Private Bag X115, Pretoria, 0001; or faxed to (012) 315 5206; or sent via email to retirement.reform@treasury.gov.za . - SAnews.gov.za
