Mmegi

Pension funds surpass NBFIRA’s repatriation target

Public investment: Pension funds are eyeing NDP12 which has a dedicated Public Private Partnership window through which private capital can boost public works PIC: MORERI SEJAKGOMO
Public investment: Pension funds are eyeing NDP12 which has a dedicated Public Private Partnership window through which private capital can boost public works PIC: MORERI SEJAKGOMO

Local pension funds grew their assets by almost 13% last year, reaching P139 billion by December, with their domestic portfolio constituting 40.6%, surpassing the target set by the regulator.

Under amendments to the Retirement Funds Act, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) mandates pension funds to raise their domestic holdings to a minimum of 50% of their total assets, progressively between 2023 and 2027.

Formally known as Pension Fund Rule 2 or PFR2, the NBFIRA statute previously mandated pension funds to invest a minimum of 30% of their assets locally.

Editor's Comment
Exercise extra caution!

Unfortunately, petty thieves tend to be more vicious around this time as they also prepare for the festive season. Culturally, many Batswana go home for the holiday, and petty thieves are amongst those who go home. Burglaries, car break-ins, and attacks on unsuspecting pedestrians seem to be on the rise!That is not all, as scammers continue to take money from pensioners as well as other Batswana who may fall prey to their unscrupulous tactics....

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