Section 36(1)(bB) of the Pension Funds Act, 1956 empowers the Minister of Finance to make regulations limiting the amount and the extent to which a retirement fund may invest in particular assets, e.g. equities. Regulation 28 specifically addresses these limitations.
Perhaps the most important addition to Regulation 28 is the requirement for individual member compliance to the different asset class limits. In other words retirement funds need to comply with Regulation 28 on a total fund basis but also on an individual member level where the fund provides individual member choice.
Additional information is available in our Regulation 28 Explained brochure.
To assist financial advisers and investors to determine the Regulation 28 status of investments STANLIB has developed the Regulation 28 Calculator. Due to the restricted availability of the required comprehensive data necessary to assess compliance on a full look-through basis, this tool only assesses compliance to Regulation 28 on the very broad asset allocation parameters that have been applicable since 1 July 2011.
Should you have any questions on the use of this tool please contact our call centre on 0860 123 003.
Regulation 28 Communications
Government Gazette No. 34070 - in relation to Regulation 28
New Regulation 28 Restrictions