
SA’s pension system holds firm on governance, falters on inclusion
The latest Mercer Global Pension Index says governments worldwide are attempting to steer private retirement fund assets into development goals.

The latest Mercer Global Pension Index says governments worldwide are attempting to steer private retirement fund assets into development goals.

The SAVCA 2025 survey shows PE firms powering ahead with R26.6bn in investments, resilient portfolio growth, and a stronger focus on infrastructure, ESG, and transformation despite tougher fundraising conditions.

IRFA president Geraldine Fowler calls on retirement funds to invest for impact, strengthen operations, and shape reforms, stressing their power to drive both financial security and societal change.

The SA Infrastructure Credit Fund has reached R2 billion in assets under management, with over 80% deployed into transport, energy, water, and digital projects.

The revised Budget reveals the hard truth: with limited borrowing room and rising demands, Treasury must make tough calls on what to fund – and what to cut.

The minister’s address to the FSCA conference also touched on regulation, South Africa’s G20 presidency, political tensions over the Budget, and economic growth.

A phased VAT increase and frozen tax brackets mean South Africans will pay more, while concerns grow over government spending and economic stagnation.

While challenges remain, improvements in energy supply, the rand, and infrastructure investment offer hope for future growth, provided the government continues to deliver on its promises.

Mika Adsetts, global chief investment officer of Momentum Multi-management, says that while PPPs are crucial for advancing infrastructure goals, an array of investments is key to scaling these projects.