Economist Mike Schussler, in a presentation at a Financial Planning Institute conference recently, said South Africa was not in as bad a position as other emerging-market countries when faced with sovereign debt downgrades, largely because of a high level of retirement savings (compared with countries such as Brazil and India) as the country has about $320 billion in pension fund assets and has the eighth largest accumulation of pension fund assets in the world (in dollar terms). READ MORE
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