"The actual operational implementation of the regulations was extensively debated following the first draft, and indicates a further shift towards a more principles-based approach, which is less restrictive and allows more freedom in the application of the regulations," Liberty says in a statement.
Some of the main changes reflected in the latest draft include:
"The revised set of defaults is a move in the right direction, and we will continue to engage with industry and the National Treasury to improve retirement outcomes for members," says Liberty.
