Retirement fund industry key to economic progression
The Retirement Funds Institute of Namibia (RFIN) held its annual retirement fund conference at The Dome in Swakopmund on Thursday.
The event, with the theme 'Contemporary Developments in the Local Retirement Funds Industry', attracted around 130 delegates drawn from pension funds trustees, administrators, asset managers, consultants and regulators.
During his keynote address, the minister of finance, Calle Schlettwein, said that the conference came at the right time as Namibia sought to respond to the current economic downturn and to overcome weaknesses raided by credit-rating agencies.
“Our policy package is to achieve the high five objectives of inclusive growth, strengthening macroeconomic stability, creating jobs, eradicating poverty and further reducing inequalities.
The increasing emphasis on alternative means of financing and structural reform agenda is in recognition that fiscal consolidation has the potential to further constrain growth and risk reversals of significant gains achieved.
“A package of measures should be undertaken to guard against such reversal while placing the economy on higher inclusive growth trajectory.
The private sector partnership has never been more relevant and the retirement fund industry in particular is called upon to be an active role player in this transformational agenda,” said Schlettwein.
The Public Procurement Bill, which came into effect as of April this year, has specific local preference provisions.
Schlettwein urged the retirement fund industry to give effect to provisions of this law as they would benefit from local procurement in the economy.
The two-day conference addressed a number of trending and pertinent issues like public-private partnerships, infrastructure investing, pension fund governance, the Financial Institutions and Markets (FIM) Bill, the regulatory levy structure, the Moody's credit downgrade, geopolitics, responsible pension fund administration and sustainability of pension funds.
ADOLF KAURE
The event, with the theme 'Contemporary Developments in the Local Retirement Funds Industry', attracted around 130 delegates drawn from pension funds trustees, administrators, asset managers, consultants and regulators.
During his keynote address, the minister of finance, Calle Schlettwein, said that the conference came at the right time as Namibia sought to respond to the current economic downturn and to overcome weaknesses raided by credit-rating agencies.
“Our policy package is to achieve the high five objectives of inclusive growth, strengthening macroeconomic stability, creating jobs, eradicating poverty and further reducing inequalities.
The increasing emphasis on alternative means of financing and structural reform agenda is in recognition that fiscal consolidation has the potential to further constrain growth and risk reversals of significant gains achieved.
“A package of measures should be undertaken to guard against such reversal while placing the economy on higher inclusive growth trajectory.
The private sector partnership has never been more relevant and the retirement fund industry in particular is called upon to be an active role player in this transformational agenda,” said Schlettwein.
The Public Procurement Bill, which came into effect as of April this year, has specific local preference provisions.
Schlettwein urged the retirement fund industry to give effect to provisions of this law as they would benefit from local procurement in the economy.
The two-day conference addressed a number of trending and pertinent issues like public-private partnerships, infrastructure investing, pension fund governance, the Financial Institutions and Markets (FIM) Bill, the regulatory levy structure, the Moody's credit downgrade, geopolitics, responsible pension fund administration and sustainability of pension funds.
ADOLF KAURE
Comments
Namibian Sun
No comments have been left on this article