Fresh push for review of 70/30 pension fund split
Friday, December 01, 2017
Currently, the regulations direct asset managers to hold not more than 70% offshore and the balance onshore. By March 2017, the date for which latest figures are available, local pension fund assets amounted to P77.5 billion of which 62.1% was held offshore.
The latest push for a review follows a botched attempt by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) seven years ago, where it wanted 70% of the pension funds moved onshore by 2030 in order to develop local capital markets.
The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...