State stepping into a minefield with social security reform plans: expert
Asisa adviser says changes should not disrupt the industry but build on it and should first cater for those most at risk
Any future social security reform programme should build on and not disrupt the existing contractual savings and life insurance arrangements of both public and private sector employees, senior policy adviser of the association representing the savings and retirement funds Stephen Smith stressed on Thursday.
The Association for Savings and Investment SA (Asisa) represents the majority of SA’s asset managers, collective investment scheme management companies, linked-investment service providers, multi-managers and life insurers.
Smith was responding to the green paper released on Wednesday for public comment by social development minister Lindiwe Zulu, which proposes the comprehensive reform of the social security and retirement system, including the creation of a state-managed national social security fund (NSSF)...