scholarly journals Regulating South Africa’s retirement funds: The case for clearer objectives

2021 ◽  
Vol 24 (1) ◽  
Author(s):  
Rob Rusconi
Keyword(s):  
Financial Markets ◽  
South African ◽  
Old Age ◽  
Retirement Funds ◽  
Clear Statement ◽  
Old Age Provision

The rationale for the regulation of participants in financial markets, like retirement funds, is sound. It would be strengthened, however, by a clear statement of the objectives of such regulation. In this article the position is taken that the objectives underpinning the regulation of South African privately-managed retirement funds should be enhanced. It presents this argument with reference to international principles concerning systems of old-age provision, and to the examples of regulations in other jurisdictions. It recommends a set of practical regulatory objectives in the pursuit of efficiency, sustainability, coverage, adequacy and security of provision for old age.

scholarly journals One pillar crumbling, the others too short: old-age provision in Germany

2016 ◽  
Vol 237 ◽  
pp. R13-R21
Author(s):  
Martin Werding
Keyword(s):  
Financial Markets ◽  
Old Age ◽  
Developed Countries ◽  
Occupational Pension ◽  
Demographic Ageing ◽  
The Public ◽  
The Past ◽  
Pension Schemes ◽  
Funded Pensions ◽  
Old Age Provision

Responding to the challenges of demographic ageing, the German system of old-age provision has undergone substantial changes during the past two decades and is in fact still under reconstruction. Benefit levels deriving from the public pay-as-you-go scheme will decline until 2060, while contribution rates may still go up substantially. Additional cover from private or occupational pension schemes is urgently needed. Thus far, steps in this direction have been half-hearted. The continuing crisis in financial markets and a more profound distrust in financial institutions and market-based instruments of old-age provision currently create obstacles to progress with this overhaul. Nevertheless, despite the differing traditions, Germany could learn important lessons now from other developed countries that have longer experience of funded pensions.

scholarly journals ANALISA PENCATATAN PEMOTONGAN IURAN DANA PENSIUN PT. POS INDONESIA CABANG MANADO

2016 ◽  
Vol 11 (2) ◽  
Author(s):  
Cynthia Imelda Mose ◽  
Inggriani Elim
Keyword(s):  
Old Age ◽  
Analytical Method ◽  
Pension Fund ◽  
Pension Funds ◽  
Civil Servants ◽  
Financial Condition ◽  
Retirement Funds ◽  
Pension Contribution ◽  
Descriptive Method ◽  
Made In

Everyone wants a prosperous life in old age. In the 1970s, people race to sign civil servants because only civil servants who have the assurance of a pension fund. However, in the 1990s after the issuance of Law No. 11 of 1992 on retirement funds, pension funds had not confined to civil servants but also the private sector employees. The purpose of this study was to determine the recording of deducting pension contributions PT. Pos Indonesia Cabang Manado. The analytical method used was descriptive method starts with collecting relevant data with research, analyzes how the recording of deduction contributions to pension funds, and draw conclusions. The results showed that the recording of pension contributions deduction made in accordance with accounting theory and the company only help in collecting and depositing pension contributions to the pension fund account.The company should mantain the recording of pension contribution deduction so the company’s financial condition could be controlled, especially about pension contribution deduction.   Keywords: recording, pension fund

scholarly journals UNDERSTANDING THE SOUTH AFRICAN FINANCIAL MARKETS: AN OVERVIEW OF THE REGULATORS

Obiter ◽  
2021 ◽  
Vol 31 (3) ◽  
Author(s):  
Lynette Swart ◽  
Vivienne A Lawack-Davids
Keyword(s):  
Financial Markets ◽  
South African ◽  
Regulatory Framework ◽  
The Body ◽  
Regulatory Environment ◽  
The South ◽  
Body Of Knowledge

This article examines the regulatory framework pertaining to the South African financial markets. The authors explain selected terminology and provide an overview of regulators in order to create an understanding of the regulatory environment to enhance transparency and add to the body of knowledge in financial markets law.

scholarly journals Does money empower the elderly? Evidence from the Agincourt demographic surveillance site, South Africa1

2007 ◽  
Vol 35 (69_suppl) ◽  
pp. 157-164 ◽  
Author(s):  
Anne Case ◽  
Alicia Menendez
Keyword(s):  
South African ◽  
Old Age ◽  
The Elderly ◽  
Social Pension ◽  
Alternative Means ◽  
Health And Development ◽  
Adults And Children ◽  
Socioeconomic Data ◽  
The Impact ◽  
To Receive

Aims: To quantify the impact of the South African old age (social) pension on outcomes for pensioners and the prime-aged adults and children who live with them, and to examine alternative means by which pensions affect household outcomes. Methods: We collected socioeconomic data on 290 households in the Agincourt demographic surveillance area (DSA), stratifying our sample on the presence of a household member age-eligible for the old-age pension (women aged 60 and older, men aged 65 and older). Results: The presence of a pensioner significantly reduces household reports that adults and, separately, children missed meals because there was not enough money for food. In addition, girls are significantly more likely to be enrolled in school if they are living with a pensioner, an effect that is driven entirely by living with a female pensioner. Our results are consistent with a model in which pensioners have a greater say in household functioning once they begin to receive their pensions. Conclusions: We find a program targeted toward the elderly plays a significant role in children's health and development.

scholarly journals Life-Long Work or Well-Deserved Leisure in Old Age? Conceptions of Old Age Within the French and German Labour Movements in the Late Nineteenth and Early Twentieth Centuries

1997 ◽  
Vol 42 (3) ◽  
pp. 397-418 ◽  
Author(s):  
Karen Schniedewind
Keyword(s):  
Old Age ◽  
Great Degree ◽  
Early Phase ◽  
Modern Concept ◽  
French Society ◽  
Labour Movement ◽  
Life Phase ◽  
Late Nineteenth ◽  
Old Age Provision ◽  
The Welfare State

SummaryThe close connection between old age and retirement and to what extent society accepts work-free retirement in old age emerged as the topical themes we know in France and Germany as late as the 1950s and 1960s. By analysing the relevant discussions in the labour circles of both countries the author examines whether this modern concept of retirement originated in the early phase of the welfare state. The concepts and points of criticism which each of the labour movements developed for old age provision show, by virtue of the different national mental attitudes, that their considerations about old age as a life phase diverged from one another to a great degree. The German labour movement believed that old age pensions were primarily a compensation for the reduction in income on reaching an advanced age, and it thus gave preference to the invalidity pension. In contrast, French society supported the idea of welfare security for the old. Along with criticisms of state social policies, the purpose of providing for the old is at the centre of the essay's analysis, more specifically the contrary forms this discussion took in Germany and France: obliged to work in old age or well-earned retirement.

scholarly journals A Historical Overview of the Regulation of Market Abuse in South Africa

2017 ◽  
Vol 17 (3) ◽  
pp. 971
Author(s):  
Howard Chitimira
Keyword(s):  
South Africa ◽  
Financial Markets ◽  
South African ◽  
Insider Trading ◽  
Stock Exchanges ◽  
Market Manipulation ◽  
Historical Overview ◽  
The South ◽  
Market Abuse ◽  
Overview Analysis

In an early attempt to combat market abuse in the South African financial markets, legislation such as the Companies Act, the Financial Markets Control Act and the Stock Exchanges Control Act were enacted. However, these Acts failed to effectively curb market abuse activities that were allegedly rife in the financial markets. Consequently, the Insider Trading Act was enacted and came into effect on 17 January 1999. While the introduction of the Insider Trading Act brought some confidence in the financial markets, market abuse activities were still not extinguished. The provisions of the Insider Trading Act were to some extent inadequate and ineffectively implemented. Eventually, the Securities Services Act was enacted to repeal all the flawed provisions of the Insider Trading Act. Notwithstanding these efforts on the part of the legislature, more may still need to be done to increase the number of convictions and settlements in cases involving market abuse in South Africa. It is against this background that a historical overview analysis of the regulation of market abuse is carried out in this article to expose the flaws that were previously embedded in the South African market abuse laws prior to 2004. This is done to raise awareness of the situation on the part of the relevant stakeholders, as they consider whether such flaws were adequately resolved or subsequently re-introduced under the Securities Services Act and the Financial Markets Act. To this end, the article firstly discusses the historical development and regulation of market manipulation prior to 2004. Secondly, the regulation and enforcement of insider trading legislation prior to 2004 are examined. Moreover, where possible, certain flaws of the previous market abuse laws that were re-incorporated into the current South African market abuse legislation are isolated and recommendations are made in that regard.

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