Public Sector Pension Funds in Australia: Longevity Selection and Liabilities

Zimbabwean government clampdown could escalate

Emerald Expert Briefings ◽

10.1108/oxan-db245903 ◽

2019 ◽

Keyword(s):

Civil Society ◽

Public Sector ◽

Public Services ◽

Pension Funds ◽

Short Term ◽

Security Forces ◽

Content Type ◽

Potential Increase ◽

To Come

Significance This was the second major protest banned by the authorities in recent days, amid deepening public dissatisfaction with the government's handling of the economy. As fears grow among the ruling ZANU-PF government of a popular uprising, the security forces are intensifying a clampdown on opposition and civil society figures. Impacts Recent violence will probably delay, but not necessarily scupper plans for a new IMF funding package over the medium-to-long term. A potential increase in public-sector wages has unnerved the IMF amid fears over renewed fiscal slippages. A recent scandal over the looting of pension funds by officials has undermined already fragile confidence in government. The current public services crisis will likely worsen over the short term, as strikes by workers increase. Opposition calls for a transitional government are likely to come to naught over the short term amid entrenched ZANU-PF resistance.

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South Africa’s largest public sector pension funds: a collective developmental role?

Corporate Ownership and Control ◽

10.22495/cocv5i3p14 ◽

2008 ◽

Vol 5 (3) ◽

pp. 139-158 ◽

Cited By ~ 4

Author(s):

Helen Wildsmith

Keyword(s):

South Africa ◽

Sustainable Development ◽

Public Sector ◽

Pension Funds ◽

Leadership Role ◽

Management Approach ◽

Transition Management ◽

Investment Policies ◽

Developmental Role

As significant long-term domestic investors, South Africa‟s largest public sector pension funds have an interest in helping South Africa move onto a sustainable development path. However, this paper tentatively concludes that, although there is a possible collective developmental role for these funds, this is unlikely to occur unless leadership from government or the funds emerges. If a leadership role is chosen, government should probably focus on a transition management approach to sustainable development, trustees on the implementation of long-term investment policies, and the members of the investment community on a high leverage initiative, possibly linked to the Financial Sector Charter review. Some of the tentative conclusions reached in this paper also provide pointers for overseas pension funds and their stakeholders. Firstly, governments could support collective action between the largest public sector pension funds globally, and in return develop an unusually powerful long-term voice in support of a transition to sustainability. Secondly, a more significant role for these funds will highlight the issue of prioritisation, and the development of legitimate processes is likely to be needed. Thirdly, full implementation of genuinely long-term investment policies will probably lead to significant changes in the role funds play in the investment industry, possibly including the establishment of their own investment co-operatives.

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