South Africa

GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days.

SOUTH AFRICA - Towers Watson has doubled its stake in South African actuarial and employee benefits firm Fifth Quadrant and appointed Nigel Biggs as managing consultant in the country.

SOUTH AFRICA - SEI Investments (South Africa) has hired Giles Mokoka as managing director in Johannesburg.

Global Pensions and the Principal Officers Association of South Africa last night held its annual South African pension service providers awards in Johannesburg, the Imbasa Yegolide Awards for 2010. The winners were announced at an elegant gala at the...

SOUTH AFRICA - The assets managed by South Africa's state pension fund manager leaped 24% in the fiscal year through March as share prices soared, Finance Minister Pravin Gordhan said.

NETHERLANDS/SOUTH AFRICA - APG, the investment arm of giant Dutch pension fund ABP, has committed US$250m to Pallinghurst, an investment company specialising in natural resources.

SOUTH AFRICA - Brian Molefe has resigned as chief executive officer of South Africa's Public Investment Corp., the continent's biggest pension fund manager, the company said.

SOUTH AFRICA - South Africa plans to create financial instruments that will enable state and private pension funds to invest more in development projects, economic development minister Ebrahim Patel said.

GLOBAL - The International Accounting Standards Board (IASB) today voted to not move forward with plans to eliminate the use of government bonds to determine discount rates.

SOUTH AFRICA - The R786bn (US$83.2bn) Public Investment Corporation (PIC), which manages pension fund assets on behalf of the South African government, has announced it is to shift R65bn to black African fund managers.