Advertise Here
Icon

Directory

IconActuaries
IconAssociations & Institutes
IconAuditors
IconBBBEE Consulting and Verification Agencies
IconBenefit Administrators & Investment Managers
IconBusiness Chambers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconDebit Order Collection Facilities
IconEducation and Training
IconFAIS
IconHuman Resources
IconInformation Technology and Software Partners
IconLegal
IconOmbud
IconPension Fund Trustee Liability Insurance
IconPension Fund Trustee Training
IconPension Funds Adjudicator
IconPolicy Administration
IconPolicy Trading
IconPublications
IconRegulatory Authorities
IconRetirement Funds registered by the FSB
IconRetirement Products
IconSocial Grants (Government)
IconSurveys and Research
IconTraining Courses & Workshops
IconTrust Establishment & Management
IconWellness Programs
Image
  Subscribe To »

FSCA releases Guidance Notice on retirement funds sustainability of investments and assets

Published

2019

Thu

20

Jun

On 14 June 2019, the FSCA released a guidance notice on the sustainability of investments and assets in the context of a retirement fund’s investment policy statement. This notice is to provide guidance to boards of retirement funds on how to comply with parts of Regulation 28 (Reg 28) under the Pension Funds Act, 1956 that deal with the sustainability of their investments and assets, as well as setting out the FSCA’s expectations regarding disclosures and reporting on this issue. This is primarily aimed at helping funds make sound and sustainable investments for the benefit of their members, but also for the benefit of the environment and society they will ultimately retire in.

One of the key principles and best practice on sustainable finance and investments is the integration of environmental, social and governance (ESG) risk factors into risk management systems, and considering them in both existing and future portfolios. Sections (2)(b) and (2)(c)(ix) of Reg 28 require all funds to have an investment policy statement and that boards of funds consider ESG factors before investing in an asset, respectively. The Guidance Notice was published in the context of Reg 28 and in support of international and local developments around sustainable development, and predominantly incorporates the content of and comments on the draft Directive relating to Sustainability Reporting and Disclosure Requirements for retirement funds that was published by the FSCA for public comment in March 2018.

Although this is guidance, the retirement funds industry is encouraged and advised, in the interest of transparency, accountability and the fair treatment of its members, to apply the principles set out in this Guidance Notice dealing with disclosures and reporting.

This Guidance Notice is published on www.fsca.co.za or available for download here

 
Source: Financial Sector Conduct Authority
 
« Back to previous page Print this page » |
 

Breaking News »

Looking to reduce PI exposure and develop premium growth at the same time?

Commercial Risk surveys; Critical for growth in current market conditions. Looking to reduce PI exposure and develop premium growth at the same time? PI exposure mitigation with premium growth all under the same ...
Read More »

  

Millennials and the coming war for talent

At the stroke of midnight 2018, the last-born millennial turned 18. As more and more of this coming generation complete formal education and take up jobs, they are dramatically changing the nature of the modern ...
Read More »

  

Introducing Our New Website!

The Insurance Gateway® team is excited to share our new website with you. Given our strategic objectives for 2019 and the fact that our last website redesign was over five years ago, we decided on a much anticipated ...
Read More »

  

Insurers evolving with the digital world

The digital revolution promises to change the face of insurance as we know it and as digital disruption creates a new world of opportunities, insurers are ready and awaiting. We are in the Information Age, the ...
Read More »

 

More News »

Image

Healthcare »

Image

Investment »

Image

Life »

Image

Short-term »

Advertise Here
Image
Image
Image
Advertise Here

From The Glossary »

Icon

Fund policy:

A type of long-term insurance or reinsurance policy where the contract undertakes to provide policy benefits for the purpose of funding in whole or in part the liability of a fund to all its members.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2019. All Rights Reserved.