Covid, layoffs rock asset management

Alexander Forbes sees R3bn drop in pension fund contributions

13 December 2020 - 00:06 By NICK WILSON

Short-term reductions in pension fund contributions and retrenchments due to the economic fallout from Covid-19 are some of the biggest challenges facing SA's pension fund and asset management industry.

Alexander Forbes, one of the largest pension fund administrators in SA with more than 895,000 active members under administration and SA's largest multi-manager with more than R350bn in assets under management, said there had been a R3bn drop in contributions from active members of retirement funds in its stable, mainly from contribution holidays and retrenchments...

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