DPF eyes infrastructure as pension assets overhaul nears

Known as the Pension Fund Rule 2 or PFR 2, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) statute at the moment requires pension funds to invest at least 30% of their assets locally.

Under changes to the Retirement Funds Act, local pension funds will be required to invest a minimum of 50% domestically, a figure that by last week meant the return of P15 billion in pensioners’ assets back home from offshore markets. At the last count, 33% of pension funds, which amounted to about P115 billion, were invested locally.