The National Pension Commission (“PenCom”) recently published/released the Amended Regulation on Investment of Pension Fund Assets for the Pension Industry. The new investment guideline introduces a multi-fund structure, which would replace the “one size fits all” structure that puts all active contributors into one Retirement Savings Account (“RSA”) Fund without consideration for age or risk profile of such contributors.
The multi-fund structure is a new system of fund management that allows the splitting of the RSA ‘Active’ fund into 3 different funds; Fund 1, Fund 2 and Fund 3. The ‘Retiree’ fund remains and its called Fund 4.
Highlights of the various fund categories are as follows: