Ramaphosa assures MPs pension funds used to invest in infrastructure will be protected

CAPE TOWN - President Cyril Ramaphosa has assured MPs that the funds of pensioners that will be used to invest in infrastructure will be protected and safeguarded. 

He said that amendments to pension fund legislation and regulations had created room for these investments to be made into the country’s infrastructure.

Ramaphosa was responding to oral questions in the National Assembly on issues around growing the economy. 

"They are not state resources. To facilitate in infrastructure investment, government needs to provide those savers with a reasonable return and ensure that these funds are safeguarded."

He said that infrastructure spend would also encourage more private sector investment.

"Infrastructure spend by government will encourage and enable greater private sector investment."