The IRR says in a statement it will be delivering a memorandum to the Association for Savings and Investment South Africa (ASISA) in Rosebank. The memorandum will highlight the \u201creal threat to South Africa\u2019s R4 trillion retirement savings pot\u201d.\n\n\n\n\u201cThe governing African National Congress (ANC) has for some time discussed the possibility that the savings of ordinary South Africans could be prescribed \u2013 invested in areas or sectors \u2018prescribed\u2019 by the government. As recently as last month, minister of trade and industry Ebrahim Patel once again heightened speculation about a policy of prescribed assets by sharpening attention on the scale of the country\u2019s savings.\n\n\n\n\u201cWith the government coming under increasing financial pressure and with avenues to raise funds being either restricted or politically unpalatable, the R4 trillion retirement savings of ordinary people is looking increasingly vulnerable,\u201d the IRR states.\n\n\n\nThe first phase of the IRR campaign encourages South Africans who are concerned about their savings to write to their pension fund managers and determine what they are doing to safeguard their savings. Concerned South Africans can do so here.\n\n\n\nA very real threat\n\n\n\nIn the second phase, the IRR is approaching the major fund managers in the country to confirm whether they are aware of this very real threat to South Africans\u2019 savings and what is being done to protect them. The IRR will keep its supporters and interested parties informed on these meetings and what is being done to protect people\u2019s savings.\n\n\n\nAccording to the IRR they are concerned that the savings and investments industry is not aware of the threat to pensions \u2013 a request for a meeting with a major industry body has already been refused.\n\n\n\nThirdly, the IRR will investigate whether a legal strategy to protect pensions is feasible.