Ramaphosa and ANC are coming for your pensions, Maimane claims


- citizen.co.za | 7 months ago

Democratic Alliance (DA) leader Mmusi Maimane spoke at a Worker’s Day rally the party held in Cape Town on Wednesday, warning an audience of supporters that Cyril Ramaphosa and the ANC were allegedly “coming for” the pensions of South Africans.

The DA leader was referring to the idea of prescribed investments for pension funds, which has been hinted at by the ANC in its 2019 election manifesto. Explaining prescribed investments during a presentation, economist Mike Schussler said the government would be able to dictate to fund managers where and how much of their assets to invest.

This money could be used to bail out crippled state-owned enterprises (SOEs).

read full story @citizen.co.za