Statements continue to be made about the FNPF reforms that are simply not true. Predictably, the termination of the pension scheme has been met with anger and cynicism by those affected who even question the need for reforms in the first place. Many pensioners understand that the new life annuity arrangements are offered at a much lower conversion rate and alternative investments will not generate the returns enjoyed under the old life annuities arrangements. The reason is obvious – there are no investments available to support pensions at a rate 25% or even 15% that are of an acceptable risk for individuals or FNPF for that matter.  Read more...