In South Africa, the draft Amendments to Regulation 28 of the Pension Funds Act were published by National Treasury earlier this month. These amendments will allow retirement funds to invest up to 45% of their assets in infrastructure. This is set to open a huge potential source of funding for domestic infrastructure projects, but there has been some debate around whether this will be enough to help bridge the country’s infrastructure gap.
Paul is a UK-qualified senior associate in the Employment & Compensation practice who specializes in pensions law in the UK and South Africa. He also has experience in advising on pensions law in other sub-Saharan African jurisdictions. Paul is a former president of the Pension Lawyers Association of South Africa and a former member of the Legal & Technical Committee of the Institute of Retirement Funds Africa. He is currently assisting the Pension Policy Institute with a research series into climate change and ESG investing.