Treasury outflanked by ANC MPs on pensions amendment bill

Treasury outflanked by ANC MPs on pensions amendment bill 🔒

2021-05-20 12:09:00 AM

Treasury outflanked by ANC MPs on pensions amendment bill 🔒

In an unusual move, ANC MPs were open to amending the bill whereas the Treasury wanted them to reject it in its entirety

19 May 2021 - 14:46Linda EnsorThe Treasury was outflanked by ANC MPs on Wednesday over the possibility of salvaging a DA bill proposing that up to 75% of the value of pension fund savings can be used as security for loans.This followed submissions by the retirement and savings industries raising concerns over the wisdom and practicality of the Pensions Fund Amendment bill during public hearings by parliament’s finance committee. The private member’s bill was tabled by DA MP Dion George in response to the dire situation faced by many poor workers as a result of the Covid-19 pandemic...

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