Issued by: Ministry of Finance
10 January 1997
NATIONAL RETIREMENT FORUM
The long awaited National Retirement Forum got underway on January 9, 1997 at the Escom Conference Centre. The objective was to consult broadly on a National Retirement Provision framework and its rightful place in the South African social and economic system, so that Government can arrive at a national retirement provision policy.
Government, committed to putting a framework in place in which people are able to plan for retirement with certainty, reiterated assurances that vested rights of members of retirement funds will be protected. Furthermor retirement policy is of the utmost importance.
Several theme committees were established, namely Old Age assistance, Private sector retirement provision, Public service retirement provision, Retirement provision for local authorities and parastatals and Medical aid with specific reference to retirement provision.
An important issue which came to the fore was the continued application of the means test for old age pensions. Although some important areas of concern were addressed, the theme committee on Old Age assistance will discuss this thoroughly, taking into account the administrative and fiscal implications of any such proposal, and the views of the Department of Welfare.
All theme committees will report on progress at a full Forum meeting on February 18, indicating issues on which agreement have been reached, those requiring further deliberation and will make recommendations to government accordingly.
Issued by: Ministry of Finance Jennifer Wilson Tel: 012 323 8911