Abstract
The South African retirement fund industry ranks among the 15 largest retirement
fund industries internationally, with some 8 million members and assets under management
of close to R2 trillion. However, to be successful, retirement funds need good governance.
Research purpose: To explore the most critical servant leadership qualities required that can
serve as profile in the selection, appointment and training of retirement fund trustees (RFTs) to
serve on boards of trustees of retirement funds in the South African context.
Motivation for the study: The South African National Treasury’s retirement reform proposal
clearly articulates government’s concern for the poor governance of retirement fund assets
by appointed boards of trustees and the broader implications on social and economic
security in retirement. It promotes the regulation of standards relating to the minimum
qualifications and expertise needed to be appointed to serve on a board of trustees (BoTs).
Although the measures proposed by government to improve fund governance and the role
of the RFTs are sound in principle, it does not inform the character, leadership qualities or
leadership competence desired for RFTs, thus leaving the management of funds in the
hands of people who must make investment decisions when they themselves are not fully
committed...